Yuta Misaki loses large on $29m crypto debacle, repents

Japanese entrepreneur and influencer, Yuta Misaki, shared his story of dropping $29 million in cryptocurrency investments, cautioning his followers to tread cautiously within the risky crypto markets.

Yuta Misaki, the 31-year-old Japanese entrepreneur and social media influencer generally known as “The Inexperienced Juice Prince,” has shared his cautionary story about investing in cryptocurrency. In a YouTube video posted on March 1st, Misaki revealed that he misplaced $29 million in crypto investments after shopping for bitcoin on the peak of the market.

He described the funding as a “guess” that went flawed and referred to it on Twitter as “the gamble of the century.”

Yuta Misaki: large hit

Misaki constructed his fortune by advertising aojiru juice, historically loved by older Japanese folks, as a weight loss program assist for younger ladies. He has a big social media following, with virtually one million YouTube subscribers and 1.5 million Twitter followers.

Misaki admitted to having not too long ago made a revenue of a number of hundred million yen by an preliminary coin buy. Nevertheless, he adopted this up with a extra in depth and finally unsuccessful try and make earnings available on the market.

He invested round $9.6 million in crypto, however his portfolio has now shrunk in value to simply $2.2 million. Misaki described the expertise as leaving him “drained” and “nauseous” and claimed that it severely depleted his funds.

Regardless of the loss, Misaki nonetheless holds positions in crypto and hopes to make a turnaround ought to the market recuperate to 2021 ranges. His cautionary story has garnered sympathy from followers who’ve additionally suffered losses within the crypto markets.

Some have urged him to depart the crypto markets for good and concentrate on making a comeback within the enterprise world. Misaki’s enterprise, Media Hearts, turned monumental earnings within the early 2010s however suffered an surprising blow in 2019 when tax authorities raided the agency over suspicions of tax evasion.

Misaki was discovered to have evaded paying some $1.63 million value of taxes and was subsequently arrested together with two firm executives. He not too long ago launched a best-selling e book chronicling his rise to fame and fortune.

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