British Youtuber KSI Buys LUNA Crypto, Loses $2.96 Million

British Youtuber KSI

British rapper, Youtube streamer and crypto investor KSI bought $2.96 million of LUNA before it dropped a further 99.7% in the Terra collapse.

Normally a top altcoin already down over 85% from its all time high – KSI bought LUNA at around $17, and it was once over $119 – could be a good investment. However like many casual retail investors, he wasn’t aware of the hyper inflation of its supply.

He bought LUNA before some crypto exchanges decided to pause trading to protect traders from the freak crypto crash. eToro was one such exchange. The LUNA price has since stabilized and bounced, but not yet enough for KSI to recoup his losses, which may not be possible unless much of the LUNA circulating supply is burnt.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

KSI Crypto

Olajide Olayinka Williams Olatunji, whose father is from Nigeria, is ranked as the fifth highest paid Youtuber in the world, streaming video games, comedy, and his rap music.

He famously sparred with fellow Youtuber Logan Paul in a boxing fight, generating over $10 million in estimated revenue from pay-per-view subscriptions. He donates part of his profits to charity including Comic Relief, Childline and a foundation making technology to help disabled children play video games.


KSI’s first tweet on his $2.8 million LUNA buy

He’s also well-known in the crypto Twitter scene where he has an account @ksicrypto.

Some crypto traders use his handle as a ‘counter indicator’ – shorting the market when he buys, and vice versa longing when he is bearish. He has stated he has lost $8 million so far by attempting to trade crypto, often on leverage.

KSI Buys LUNA for $2.96 Million Total

In a later tweet after buying LUNA’s dip, KSI shared screenshots showing he in fact first bought $2.96 million worth of LUNA, at the time that buy order was for 80,665 LUNA coins.

He must have then bought more in an attempt to dollar cost average – although it’s not clear at what price – to reach a total LUNA holding of 157,357 LUNA.

KSI also tweeted an update that the total sum was ‘now worth a few hundred dollars‘.

KSI Youtuber Buys Crypto

KSI has stayed optimistic, tweeting positive messages about what he’d learnt from his time investing in cryptocurrency, and how to deal with losses in crypto. He stated he ‘still had his friends, family and vigorous work ethic‘ so all was ok.

As far back as when he opened the KSICRYPTO account in early 2021 he has advised his now 412,000 followers not to margin trade – some crypto platforms such as eToro don’t offer that for crypto assets, as the crypto markets are very volatile so any short term wick could result in liquidation on high leverage.

He has also stated that buying crypto has made him realise that ‘money simply isn’t everything’.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

Read More: British Youtuber KSI Buys LUNA Crypto, Loses $2.96 Million

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