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KSI Explains How He Lost £7 Million After Investing In Bitcoin

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KSI Explains How He Lost £7 Million After Investing In Bitcoin

KSI has explained how he lost £7 million after investing in Bitcoin.

The YouTube superstar said that he sank £2 million of cash into the cryptocurrency, and made £7 million for his efforts, but then lost it all when Bitcoin crashed.

Speaking on the Private Parts podcast, KSI - real name Olajide Olayinka Williams "JJ" Olatunji - said: "I put £2 million [in] last year, November/December, but this was in cryptocurrencies - I made £7 million, and now I've lost it all.

"Yeah, [I'll have to release] another EP.

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"It's been a full journey, but I had to experience it. I had to really delve into the whole crypto-space, and you know, I fully understand that now.

"I put money into things where I essentially leveraged myself and I kind of over-leveraged myself to a point where I lost money, because I got liquidated, so I put a lot of money into something I got liquidated because of the Bitcoin crash."

Credit: Private Parts/Instagram
Credit: Private Parts/Instagram

However, he hasn't let that get him down, and says that Bitcoin is 'here to stay' despite the fact that he's been bitten.

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"I was like, OK, well big whoop," he said.

"It is what it is, I'll move on. There's no point crying over spilt milk, and I realised that during the bear market is when you want to invest in things.

"I got excited, [it thought] it's a bull market now, let's go. I was trying to put money into all these things.

"I got lucky with the £7 million, but I should have been smart and taken that money out. Then, just wait for everything to drop and go back into it again."

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Credit: Private Parts/Instagram
Credit: Private Parts/Instagram

When asked whether investing in Bitcoin is akin to gambling, he responded: "No, Bitcoin is here to stay. It is the future, but no-one wants to accept it.

"Same with Ethereum, yes - of course - it all fluctuates, but it's going up.

"If you stand back and look at the whole picture, it's slowly going up and eventually you're going to get a $100,000 Bitcoin, a $500,000 dollar Bitcoin, and a $1 million Bitcoin.

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"It's going to happen.

"Maybe it might take 5, 10, 15, 20 years, but it's going to happen, you've got to remember, Bitcoin doesn't have inflation."

Credit: PA
Credit: PA

"That's what's so great about it, it's not controlled by a centralised bank.

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"It's definitely the future, whether people like it or not."

We'll have to see about that JJ.

You can listen to the full podcast on Spotify, Apple Music, or through this Private Parts link site.

Featured Image Credit: PA

Topics: Bitcoin, Celebrity, Money, KSI, UK Entertainment, Cryptocurrency, YouTube

Tom Wood
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