Still not invested in cryptocurrency? Or, did you invest, watch in horror as its valuation plummeted, panic sell, then five minutes later regret doing so? It’s fine; you can still get into the most hyped investing trend of the past year. I’m going to go out on a limb and guess you haven’t sought professional financial advice, though, so take some now, free of charge, from Shark Tank‘s own Daymond John.
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John recently told Money the easiest way to not be taken advantage of is “investing in yourself,” or getting educated about whichever market has caught your eye before dumping cash into it.
“Let’s say you want to invest in cryptocurrency or medtech or real estate. Every single one of those is going to have a vast amount of things you need to know,” he said. “If you’re not investing in yourself, I can sell you anything I want in cryptocurrency or medtech. Remember, every single exchange of money, no matter what, someone has made money in it. People sell us [on our] insecurities.”
And it’s something worth knowing about, he says. John, whose estimated net worth is $ 250 million, compared cryptocurrency to the dot com investing boom in the ’90s. Yeah, the bubble burst, but the industry didn’t disappear. Crypto’s going to burst too, but it won’t fade into nothing, so start learning about it now—it won’t be a wasted effort. And for what it’s worth, John is currently invested in Bitcoin and Ethereum, in case a Shark’s portfolio convinces you to jump in.