BiggerPockets Money18 Jan 2023

375: FTX, Fraud, and the Case for Cryptocurrency in 2023

Cryptocurrency is dead in the mind of most investors. What started as an awe-inspiring investment reaching massive multiples in just months, quickly became a subject of contention within the investing community. Some moretraditional investors called cryptocurrency an outright fraud, while others claimed it was the final puzzle piece in the battle for a stable fiat currency. Now, with many crypto prices down, is there any reason to invest?

For long-time listeners of the BiggerPockets Money Podcast, you’ll know that hosts Scott and Mindy don’t have a terribly favorable view of cryptocurrency. Not because they think it’s illegitimate, but because of its massive volatility that has borderline bankrupted many inexperienced investors. We wanted a deeper insight into why cryptocurrency could be worth investing in, so we brought Laura Shin onto the show.

Laura is host of the Unchained podcast, where she updates the crypto community on the latest news stories, price action, and more. Laura is an agnostic crypto investor with a level-headed view of the benefits and risks of investing in this volatile asset. She gives us a masterclass on the current state of cryptocurrency, the history of Bitcoin, why assets like Ethereum may be more valuable, and why exchanges like FTX are not to be trusted.

In This Episode We Cover

The history of cryptocurrency and how Bitcoin started a worldwide craze

Ethereum vs. Bitcoin and why “ultra-sound” money could beat the rest

The “crypto winter” and whether or not now is a buying opportunity for investors

Money crypto vs. tech crypto and why there may be more than one coin left standing

FTX, fraud, and how crypto exchanges can lose your coins, and the best way to protect yourself

And So Much More!

Links from the Show

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Check Out Mindy’s 2022 Live Spending Tracker and Budget

Finance Friday: First Down Market? Here’s How to Stop Stressing

Unchained podcast

Bitcoin: Investing Fad or Final Bullet to Fiat Currency?

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-375

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