Posts

Ask Leo: Would You Still Invest In Cryptos If You Were Already A Fiat Multimillionaire?

avatar of @teesart
25
@teesart
·
0 views
·
2 min read

I thought about this some days ago and coincidentally found the question on Reddit. Well, I'm pretty far from being a multimillionaire but having that kinda money and opportunity does come with changes and of course many decisions we'd probably not have taken, we may take or may delay taking. Before sharing my thoughts, I'd like to give a quick backstory on how I got into cryptos.

I was searching for ways to earn online at a time when I wasn't getting much from the job I did back then. I needed other sources of income and the internet was getting quite famous as a place one could earn a bit to keep up. I found crypto during one of my searches when it was used by a platform which turned out to be a ponzi scheme. After thr platform crashed, I kept searching and got introduced to Hive (Steem) and here I am.

So technically, If I was already a multimillionaire in fiat, I'd probably not have got involved or invested in cryptos at the time I got involved. I mean, most of us here actually got in cos of the money and several opportunities it could bring, which as a multimillionaire, this opportunities and money were already available. This is basically why it's rare to see fiat multimillionaire join the crypto movement, as a matter of fact, most criticise it and feel it's just a bubble.

However, regardless of the how rich we are, I believe investing in cryptos is actually something that is inevitable in the long run. Cryptos is the future of fiat and at some point people who criticised it or felt it was a bubble will begin to see its importance and potentials, its current volatility won't be seen as risky but as a life time opportunity and yeah, like cowries and coins, fiats will be of no use if the future and cryptos will rule.

So to answer the question, If I were a fiat multimillionaire already, I may not invest in cryptos at the time I invested in it, but I'd definitely consider it at some point after understanding its use, potentials and the problems it solves.