Those aware of Cordozar Broadus’s (Snoop’s) market moves understand he is a strategic investor. He seems to have a 20/20 vision when making moves with his money. Snoop’s brands and ventures provide the proof. Broadus is a visionary, thought leader, and master strategist with a net worth of $150million. And recently, Broadus (Snoop), who has significant investments in the crypto market, shared some insight on the current downturn referred to as Crypto Winter.
What is Crypto Winter?
Crypto winter is a sustained period of depression in the crypto market. As CNBC delineates,“crypto Winter is when crypto prices fall and stay low for an extended period.”
And sources indicate this downturn has been a long time in the making. According to a Forbes article,
“Since November 2021, the crypto market has dropped 60%—drastically falling from $3 trillion to less than $1 trillion.”
What Does That Mean?
Drops such as this trigger investors to sell which depresses the market further. Fundamentally those who hold crypto are experiencing significant losses. Snoop was an earlier investor in the crypto market. Furthermore, he continues to maintain sizable assets. So the downturn also has him feeling the pinch. To give a clearer picture, Snoop, the owner of a plot in the Sandbox [metaverse], had 5,000 early access passes (via Block Chain Technology) on the market. CNBC reported,
“The sale has generated nearly $700,000 — a significant haircut from the $1.7 million it had generated earlier in the year.”
Undoubtedly, the stakes are high. However, Snoop’s seat at the table is what earns him the credibility to provide insight worth listening to.
Why Is Crypto Winter Occurring?
All markets have cycles. The individual’s stock ties into the broader economy. Thus economic fluctuations are felt throughout all markets. Currently, the US is undergoing a significant inflationary period. This also significantly impacts crypto investors. Forbes reports that “macroeconomic and geopolitical turmoil” affect the economy.
Additionally, events surrounding two significant players, Terra and Celsius, in the crypto market didn’t help. And as another source put it, the market volatility also ties heavily to word of mouth. And bad news travels fast.
Cordozar Broadus’s (AKA Snoop) Market Strategist
Broadus being the market-moving strategist he is, is holding steady. As a bonus, the Doggfather took the time to give insight into the current downturn. According to Snoop, what the crypto market is experiencing is not new. In fact, what’s happening in this market mirrors historical occurrences in other markets. As Snoop also told CNBC
“Every great industry has a downfall. There’s been a depression in every industry you can look at … alcohol, tobacco, clothing, food; every industry you can imagine.”
And he is correct.
Cordozar Broadus’s Position
He is holding for a turnaround. Furthermore, he has a tremendous amount of faith in what’s up ahead. In his words,
This [crypto winter] weeded out all the people who weren’t supposed to be in the space and were abusing the opportunities. Now it’s going to bring on great business, and moving forward, when the market comes back, there will only be great things to pick and choose from.
That’s quite a bit of insight. Snoop’s poker stance says a lot because he and his son are major players with a sizable stake.
No one can predict if Cordozar Broadus is on the money. However, all investments come with risk. And one cannot assume significant gains without some risk, and Snoop knows that. So given his success in several markets thus far, it is difficult to hedge a bet against that. But we won’t honestly know until we know. Until then, FM Hip Hop will keep tabs.
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Written by Renae Richardson
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