In September 2021, a daring student made a bold financial gamble: using the entirety of their student loan, a sum of $25,000, to invest in an unfamiliar cryptocurrency, "My Shiba Academia."
Dramatic plummet:
from 25K to 200 dollars Unfortunately, within just a few weeks, their savings evaporated, leaving a mere $200 in their financial portfolio. "I went through a dark period and had dark thoughts several times," they revealed, expressing the dramatic consequences of that decision.
Struggling for financial survival
As a result of this substantial loss, the student found themselves juggling multiple jobs to pay rent and cover expenses. Keeping this financial distress to themselves, they hid their situation from loved ones for six long months, overwhelmed by shame.
"I took out a 25K student loan in September 2021 which I all in on a shitcoin (My Shiba Academia).A few weeks later, I had $200 left...
After that, I went through a dark period and had several gloomy thoughts...
Since then, I've been doing a series of student jobs to get by and pay my rent...
It took me 6 months to tell my friends and family, and I'm ashamed of myself, so watch out!"
Cautionary advice
"So watch out !" he warns, highlighting the dangers inherent in risky investments in cryptos, particularly those with very low market capitalisations.
This testimonial highlights a reality shared by many beginners and strongly recommends only investing sums you can afford to lose in the most established crypto-currencies, a wise lesson learned from this difficult financial experience.
