Crypto Speculation with Student Loans?
Welcome, welcome to One Minute Crypto! I’m your host, Chronos, and today we’re going
to take a look at an absolutely shocking survey result on college students this month. The poll question was simple: “Have you ever
used student loan money to invest in cryptocurrencies like Bitcoin?” Now, if I were to guess the number of students
that answered “yes” to this question, I might say, well, not everyone has even HEARD of
bitcoin, so the number is going to be pretty low, maybe 2% or 3%. I’ll give you a moment. How many do you think answered “yes”? Alright, here are the results: 21.2% answered “yes.” Whoa. WHOA! 21%? That is crazy. There’s two aspects of this number that really shock me. First, that’s a huge number of people buying
bitcoin! It makes me think the market itself is overvalued,
as these students are likely to sell their investments if they start losing money. But secondly, bought with student loans? That’s money you’re going to have to pay back,
and if the crypto market crashes, that’s going to be no fun at all. So I put some thought into this, and I came
up with three guidelines by when it comes to investing with student loans. First: Don’t use borrowed money to buy bitcoin. Second: Don’t use borrowed money to buy bitcoin. And third: Don’t use borrowed money to buy bitcoin.