While many investors are still baffled by Terra’s collapse, KSI said that he is content despite losing his $2.8 million LUNA investment.
Following LUNA’s recent freefall, popular British YouTuber and rapper JJ Olatunji, well known by his stage name KSI, recently disclosed that he had lost more than $2.8 million in the cryptocurrency.
The Terra ecosystem’s native token, LUNA, was created to support the UST algorithmic stablecoin’s $1 peg. However, LUNA suffered a fatal blow when the stablecoin depegged on May 9 and fell below 40 cents. The cryptocurrency lost virtually all of its value after plummeting from $62 on May 9 to zero as of this writing.
The $2.8 million LUNA investment made by KSI is lost.
KSI disclosed on Tuesday that he bought LUNA on the downturn and wanted to retain it for a very long time in the anticipation that the cryptocurrency would rebound in a few years. At the time, LUNA was still trading between $25 and $30. He claimed to have spent $2.9 million on 100,000 LUNA at the time of acquisition.
But the rapper stated that he had lost almost all of his money less than 48 hours later. Within two days, the whole value of his LUNA stake had dropped to just over $1,000.
After listing his setbacks, the rapper appeared to be very upbeat. In a series of reflective tweets, he expressed his gratitude for just losing a significant amount of money.
Before cryptocurrency became as well-known as it is today, KSI admitted that his only goal had been to make a ton of money.
He understood that in his quest for wealth, he had ignored and inadvertently damaged the things that were most important to him, including his family, friends, legacy, and health. After acknowledging that he had just lost money, he went on to say that he was “finally at peace” with himself.