{"id":7267,"date":"2021-08-06T11:26:54","date_gmt":"2021-08-06T10:26:54","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7267"},"modified":"2021-08-06T11:27:01","modified_gmt":"2021-08-06T10:27:01","slug":"youtube-star-ksi-says-bitcoin-is-the-future","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/youtube-star-ksi-says-bitcoin-is-the-future\/","title":{"rendered":"YouTube star KSI says Bitcoin is the future"},"content":{"rendered":"\n
A previous loss of $9.74 million (\u00a37 million) in cryptocurrency <\/a>investment has been attributed to “over leveraging” by British YouTuber KSI.<\/h5>\n\n\n\n
\"YouTube<\/figure>\n\n\n\n

KSI, a well-known YouTube personality\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, is a member of a group of cryptocurrency investors who made and lost a lot of money during the most recent Bitcoin (BTC) crash.<\/p>\n\n\n\n

However, in his most recent interview, the United Kingdom-based influencer demonstrated his continued support for and belief in the Bitcoin ecosystem.<\/p>\n\n\n\n

After being posed the hypothetical question of “JJ” KSI, also known by his alias Olajide Olayinka Williams ‘JJ' Olatunji, expressed an interest in providing a stimulus package that would \u201cgive everyone \u00a3100 worth of Bitcoin.\u201d KSI claimed to be a supporter of the cryptocurrency ecosystem, stating:<\/p>\n\n\n\n

\u201cI think Bitcoin <\/a>is the future. It\u2019s definitely going to be long term, but in ten years\u2019 time, people who invested will be laughing.\u201d<\/p>\n\n\n\n

The YouTuber also made a comparison between the ongoing inflation of fiat currency and the rise in value of Bitcoin as a result of the traditional practise of printing money. To further bolster his argument he added: \u201cyou can\u2019t increase the amount of Bitcoin and that has value.\u201d<\/p>\n\n\n\n

KSI had previously invested \u00a32 million ($2.7 million) in cryptocurrencies<\/a>, including Bitcoin, which reached a peak of \u00a37 million ($9.74 million) at the time of the investment. However, when he revealed the incident, he claimed that he had lost everything because the digital assets had been \u201cliquidated as a result of the Bitcoin crash.\u201d He went on to say:<\/p>\n\n\n\n

\u201cThis is a long-haul thing and I\u2019m here for the journey.\u201d The influencer also stated that the general public is unable to predict Bitcoin's growth potential and is adopting a “get in and out” approach to investing in the cryptocurrency.<\/p>\n\n\n\n

Reminiscing about his previous cryptocurrency investments, KSI asserts that he has a thorough understanding of the crypto space and attributes his losses to \u201coverleveraging.\u201d<\/p>\n\n\n\n

Cryptocurrency exchanges all over the world have taken the initiative to change the perception of cryptocurrency as a high-risk investment. One of the first steps in this direction was to drastically reduce the amount of leverage in the financial system.<\/p>\n\n\n\n

According to a report published by Cointelegraph, prominent cryptocurrency exchange FTX announced a plan to reduce risky trading by reducing maximum leverage to 20x, a reduction of more than 80% from the previous level.<\/p>\n\n\n\n

To promote responsible trading, FTX Chief Executive Officer and crypto billionaire Sam Bankman-Fried asserted that traders who use large amounts of leverage are more likely to lose their crypto assets in their first trades.<\/p>\n\n\n\n

Other cryptocurrency exchanges, such as Huobi Global, have recently implemented restrictions on higher leverage in order to keep up with the trend. Binance <\/a>has also set a limit of 20x leverage for new users, with the intention of making this a standard practise for all existing users in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"

A previous loss of $9.74 million (\u00a37 million) in cryptocurrency investment has been attributed to “over leveraging” by British YouTuber KSI. KSI, a well-known YouTube personality , is a member of a group of cryptocurrency investors who made and lost a lot of money during the most recent Bitcoin (BTC) crash. However, in his most […]<\/p>\n","protected":false},"author":13,"featured_media":7270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[326,152,2002],"class_list":["post-7267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-bitcoin","tag-ksi"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/image-51.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7267"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7270"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}