CRYPTO 101 Ep. 652 Understanding Crypto: Misconceptions and Realities of Todays Volatile Markets
Apr 29, 2025
Les Borsai, co-founder of Wave Digital Assets and a former music industry professional, shares his fascinating transition into cryptocurrency. He reveals key misconceptions among high net worth individuals regarding crypto and reflects on navigating the tumultuous market aftermath of 2021. Les emphasizes the importance of risk tolerance and education, discusses the potential disruption of the music industry through blockchain, and highlights the innovative opportunities in digital asset management, including the role of government in shaping this evolving landscape.
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Les Borsai's Crypto Entry Story
- Les Borsai entered crypto by leveraging his network and curiosity, investing early in Ripple and Ethereum.
- He drew parallels between crypto adopters and early music fans who identify future hits, showing the value of insider knowledge.
Profiting from 2021 Crash
- Wave Digital Assets capitalized during the 2021 crypto crash by buying alternative tokens from bankruptcies at a discount.
- This contrarian strategy yielded profitable returns and valuable lessons in managing distressed crypto assets.
Prioritize Risk Tolerance in Crypto
- Understand your own risk tolerance before entering crypto investments to avoid pitfalls.
- Don't let greed override common sense, especially considering past frauds like FTX.