Remember how we all thought that 50 Cent—Curtis Jackson—was the Bitcoin millionaire? Well, it seems that we were wrong. Nipsey Hussle—Ermias Asghedom—knows more than you would think about digital currencies. In particular, bitcoin and the blockchain technology used to mine it.
Ermias began investing in bitcoin 5 years ago and is part owner of the Follow Coin. The company is based in the city of Amsterdam and is a crypto company.
Ermias revealed this to the XXL magazine.
As of now, cryptocurrency are valued at above $10K and by Nipsey’s words:
“But imagine when you can pay for Starbucks with cryptocurrency, when you could checkout on Amazon with your cryptocurrency. What will that do to the value and the confidence of people investing? That’s the opportunity. When retail accepts it as a form of payment, you gonna see the real boom. For these coins to be where they’re at, it lets you know how high the ceiling is.”
National authorities along with financial institutions don’t particular like virtual currency for the simple fact that it is a threat to its fiat counterpart. According to Asghedom, you shouldn’t have FUD—it is a tactic to limit the potential of digital currencies as a whole.
As he told XXL:
“Right, and just for the record, the resistance is purely political. I don’t think that the resistance is organic. Because this currency is not linked to central banks. It’s unregulated. That means a lot for the power structure that exists now. People that’s in power—the central banks, these fiat currencies that are traded globally—they got influence over the messaging and the narrative in the media. When you see people on Fox and traditional investors saying, ‘Don’t invest. Don’t put your money in these coins,’ that’s not actual financial advice. That’s political rhetoric.”
On the other hand, he advises that you be careful when investing in virtual currencies. He said:
“Bitcoin is still really new. I do agree with the critics saying be careful. And don’t think that you found a get-rich-quick scheme. I don’t think that’s what this is. Look at the reality of what’s going on—it makes perfect sense for there to be an unregulated peer-to-peer currency that people can exchange goods and services via, without it being linked to a central bank. And it’s no ulterior motive. It’s honest, between the two parties. And the transaction is transparent. So, where is the flaw in that?”
In his XXL interview, Nipsey stated that:
“[Chris Lloyd] told me, ‘Nip, this how you gotta look at the blockchain. The blockchain is like the internet in 1994. Fast-forward the internet to 2018, we got Facebook, Google, Instagram, Twitter, Amazon. All multi-billion dollar industries that was built off of this technological innovation called the internet.’ There’s all these entrepreneurs that are gonna use the opportunity that the blockchain creates to build the next Google. They’re in their lab building right now. And over the next five, 10 years, we’re gonna see these things pop up.”
He ended it by saying that you should be vigilant and DO YUR RESEARCH!
“Just educate yourself. Do your research, your due diligence. It’ll take a week and you’ll be able to absorb the majority of the important information. It’s not a hard concept to understand. If you can understand supply and demand […] you can understand cryptocurrency.”