If you can admit you lost $5.1 million (£3.6 million) whilst keeping a smile on your face and laughing it off, you’re probably doing alright in life.
And that’s exactly what KSI did in a recent YouTube video as he revealed how he lost such a massive sum of money.
It’s all down to something called leverage trading, which is essentially a way for investors to use borrowed funds to increase their exposure to the market despite paying less than the full price of the stock.
You therefore take on a greater position in a stock without paying the full price.
Of course, the extra cash has to come from somewhere – usually borrowed from a broker.
What’s the catch? Well, the risk of both profits and losses is magnified by the amount borrowed.
Admitting his lack of knowledge in this department, KSI told his fans: “Note to self and to everyone watching... never leverage trade. You don’t win, you never win.
“In a year of me doing crypto I managed to lose about $5 million. $5.1 million.
“My crypto experience has just been, just a lot of losing. A few wins and then more losing.”
Despite losing an eye-watering amount of cash, KSI simply laughed it off as a poor investment on his part. Take a look below:
Fans in the comments evidently picked up on his chill attitude, as one said: “All jokes aside but we can agree that KSI has managed to make every negative impact into a positive one.”
Another commented: “He already made those 5.1M back with his Prime Drink, no doubt about that.”
A third wrote: “This man has lost more on crypto in the last 12 months than anyone watching this video will probably ever make.”
It seems KSI has been receiving some pretty poor financial advice, as his NFT investment didn’t quite work out the way he wanted either.
He said: “F**k me man, I sold too early. I bought a Bored Ape when it was 30 Ethereum [ETH]. That’s about £68,000.
“Now guess how much a Bored Ape is. 82 [ETH]. I sold at 40 and I was laughing thinking I got a f***ing [win].
“It literally doubled. Doubled.”
KSI is referring to the popular NFT company, Bored Ape Yacht Club, which boasts proud celebrity owners such as Eminem, Post Malone and Jimmy Fallon.
Determined to see the positive side, KSI finished: “You know what, I made profit.”
Featured Image Credit: AlamyTopics: KSI, Cryptocurrency, Bitcoin
Abbi Murray