Episode #024

How To Not Lose Money In The Bitcoin Boom

We're currently experiencing a Bitcoin and cryptocurrency bull market. Bitcoin has recently reached record highs and crazy numbers are coming out of the crypto space (like this digital art piece which sold for a whopping $69 million).

This leads many to wonder if there are quick riches to be made in this space.

Are things as simple as that? Is there really some quick and easy cash to be made? If so, what steps should we take to ensure that we don't overplay our hand? 

In this episode of the ikario podcast, Shane & Abhi shed some much-needed light on the topic to help you make strong financial decisions and avoid the traps and pitfalls many will undoubtedly fall into.

And as usual, we take a slightly different approach. So here is the ikario perspective on Bitcoin, investing and what it means for those seeking financial freedom.

In this episode...

Some of the points covered in today's conversation:

  • The one thing that Abhi and Shane did right when it comes to Bitcoin/Cryptocurrency
  • What are NFT's (Non-Fungible Tokens) and why are they important?
  • What's the biggest mistake most people make when investing in cryptocurrency?
  • Why Shane believes in blockchain technology.
  • The pushback Cryptocurrency will get from governments - and how it can be resilient against it.
  • Why Bitcoin is the most trusted form of cryptocurrency.
  • Why you shouldn't invest money that you aren't willing to lose.
  • The importance of building up a "savings cushion" before you worry about investing.
  • What to look for when it comes to finding quality information.
  • The unreliability of emotion and intuition when it comes to making good investment decisions.
  • What is fiat currency (a.k.a. regular money) - and how does it differ to cryptocurrency?
  • Why accepting the mainstream view on wealth is almost a guarantee that you will stay poor.
  • Does cryptocurrency have as much of a negative impact on the environment as many people claim?
  • Why the greatest thing you can get out of this crypto boom (in the short term) is knowledge, not money.

Links & Resources

Recommended listening:

Learn more about money:

  • Cashflow by Robert Kiyosaki (Board game)

Over to You

We hope you found this episode useful! What brought you the most value? Do you have questions or feedback? Let us know by leaving a comment below!

You can follow the ikario Podcast on YouTube and also subscribe to our clips channel.

Oliver Cowlishaw

About the author

Ollie is an avid pizza connoisseur, accomplished drinker of coffee and lover of soul music. Heavily influenced by Zen & eastern mysticism, his curiosity regarding the human experience is insatiable. Despite having a strong vocabulary, he swears a lot and uses slang phrases ("ollie-isms") that almost nobody understands, not even himself.

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