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Rick Ross Reacts To New Cryptocurrency Crash

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Rick Ross hates crypto

Rick Ross has never been a fan of cryptocurrencies. He has followed the advice of his mother. “If you can’t touch it, don’t do it.” Now he is laughing at all of the people that went for it.

A month ago, Ross had asked about the legitimacy of the metaverse and cryptocurrencies. This had caused the NFT market to drop 92%. Shortly afterward, he made another post. He was hoping that it was just a coincidence and that he had not caused it, but that it was just a natural crash.

Now, cryptocurrency is crashing again. This time, Ross has nothing to do with it. He is just smugly telling everyone that he called it, but nobody listened to him.

According to Forbes, the crash is a $100 billion price crash. The reason for the crash is the US government.

“The latest bitcoin and crypto sell-off was sparked by fears the Federal Reserve could put its ‘foot on the gas’ in its fight to drive down inflation after the latest U.S. consumer price index reading showed the economy remains red-hot.”

This is causing all of the investors to freak out and sell everything in the hopes of coming out of the other side with any kind of profit.

Ross had tweeted out a reaction to the news.

The Instability of Crypto

Historically, all new currencies start extremely unstable. Both Continental Currency and MMO economics address these facts historically. Either one of two things happens. Either they find a way to regulate the money, or the currency crashes and is unable to recover. The entire point of crypto, which is being used as a feature instead of a bug, is that it is unregulated. That only leaves one fate available for all cryptocurrencies. The only question is when to buy in and check out. It is literally just gambling over a long period of time.

Written by Justin Acosta

Twitter: @hahalacka

Justin Acosta lives in Barstow, California. He recently graduated from University of California Davis and is excited to have a job and prove himself. He has a speech impediment, but he is not going to let that slow him down.

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