Just for a second give thought to those who purchased bitcoin when it was at 18k.
Since then, bitcoin's fallen precipitously and I've personally felt plenty of schadenfreude about it, but... as with nearly every financial scam, it is rarely those who deserve it who suffer the worst consequences.
Maybe, maybe not. For those that have never experienced a financial “lesson in violence” before, investing in Bitcoin is the equivalent of touching some strange shiny object that fell from the sky only to find out that the reason it’s glowing is because it’s bloody hot. Sometimes it takes the burnt flesh hanging off a bloodied stump to learn that maybe strange new objects that fall from the sky are to be avoided in the first instance, no matter how shiny they look.
To be honest, given the world we live in, and the knowledge that exists around basic investing principles I’m surprised that some people are surprised at how much they’ve lost.
For me, this just proves (yet again) that the human desire to get rich quickly is incredibly powerful and easily trumps logic and rational thought.
For the record, and just so people don’t think I’m heartless, I lost $20K of savings back in 1989 In an institution whose interest rates were (on hindsight) obviously too good to be true. I was 23. The company was called Pyramid (yes, really. Australian)