20 May 2022

Cryptocurrency and NFT markets are really down again right now, especially Luna has collapsed, losing almost all of its value in just a few days. Asmongold, a longtime opponent of investing in cryptocurrencies, spoke out when it fell.

“I said today there is no flow. Then I thought, I’m not going to miss the day NFTs die.” Asmon laughed, as he has been bashing NFTs and cryptocurrencies for quite some time.

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“I never feel bad about people losing money on this. Because I don’t bet on anything. Once people realize it’s nothing, they start selling and the price goes down.”

Asmond ended his thoughts in the fall, “It has no intrinsic value, and if everyone thinks it has no value, well, it doesn’t make any sense.”

Unlike company stocks, cryptocurrencies are not productive assets like companies, which means their value is largely determined by what others are willing to pay for them.

The Twitch star certainly feels right, as he said earlier that neither cryptocurrencies nor NFTs are solid investments.

Source: Dexetto

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