Don't be this guy: Tiktokker mortgaged his house to "invest" (read: gamble) $500K in XRP in February 2022 - Despite a 103% pump off the bear market low, he is still down 33%

Don't be this guy: Tiktokker mortgaged his house to "invest" (read: gamble) $500K in XRP in February 2022 - Despite a 103% pump off the bear market low, he is still down 33%

Money_talk_tok is a Tiktokker with 56.5K followers ​ https://preview.redd.it/r36dc4o2ce2b1.png?width=427&format=png&auto=webp&s=27a9fa7c09c886cb9fac73dbcc3bc80120273f15 ​ Money_talk_tok announced on 24 February 2022 that he bet his house on XRP when XRP was around $0.69 (nice). The amount was $500K. He did that "because there is so much fear in the market. Be greedy when others are fearful and fearful when others are greedy". Yes this is a literal quote from the video. https://preview.redd.it/3sakchq67e2b1.png?width=615&format=png&auto=webp&s=a9407aa4bea91e8fcc69b1f8ac9fa158b3c78b87 His rationale for buying was based on the Fear & Greed Index because the market was at complete fear. Even though back then the Fear & Greed index was "only" at 23. His "investment" went up initially, but then dropped 59% from the point of buying XRP, meaning that his $500K through mortaging his house was worth $205K 114 days later. https://preview.redd.it/nedswkqv9e2b1.png?width=1217&format=png&auto=webp&s=bfb397417bc412507a86c2a20f25fc0089af39ee Right now, he is still down about 33% from his initial investment, even if XRP saw a 103% pump off the lows, which now retraced some again. Through in his words "have I lost money? No I havent, because I havent sold". 1 XRP = 1 XRP in his mind. Why on earth would someone do this!? No matter how much you believe in your crypto project, do not be this guy - do not invest more than you can lose and do not fucking mortgage your house or take any type of other loan. submitted by /u/Beyonderr [link] [comments]

/u/Beyonderr