Marko Vulicevic, 19 years old is having accounts on various trading platforms. He engages his free time into reading blockchain white papers. He also has a portfolio of crypto coins and cannabis stocks of ETF.
The best bet of him is near about 1400% of the gain from the Bitcoin miner, Argo Blockchain Plc, as per his claim.
Vulicevic lost his job as a retailer due to the pandemic and started investing in crypto just like any other investor who came due to the recent surge in crypto trading. He was lured by the idea of getting a big return, along with the belief that the technology of bitcoin is having a revolutionary step in the modern age of financing.
He says that he was hooked with trading on foreign exchange on a demo Trading212 account. Then, he started investing in crypto coins and stocks after doing his own research.
“When I started to see the price fluctuations, it was like a dopamine rush,” said Vulicevic, who currently lives in Surrey, a county southwest of London. “But when I started to learn more, like understanding the technology, the under-the-hood stuff and how it could perhaps change the world, that is when I realized this could be a serious chance for me to profit on a technological evolution event,” he further said.
Though the niche of blockchain technology is still relative, Vulicevic says that he is confident about its capabilities to create a more loyal, transparent system for finance. According to him, it is a smart contract that gets connected with the counterparties.
“We don’t know how our banks lend out our money, who they give that money to or just in general how they operate in terms of risk management,” he said.
The crypto stocks on the global platform are limited in numbers. Stocks like Argo run high-speed computers that work on time-taking puzzles for mining coins. Various investors are gravitating with the stock of mining and more with crypto assets, which are obscure, along with various names to get more return. Thus, the fact about the unprofitable ground of bitcoin miners is quite a deterrent.
Argo has been one of the well-active stocks on the trading platform of the UK for the last week. It is making near about 4% purchase and 3% sales. The stock got pulled back with bitcoin. However, it is still up by 500% from December.
As bitcoin price moves from 5% to 10% in a day, it is not so unfamiliar for mining stock, which is going to swing by 20%.
The volatility is getting cut in both ways when the price of crypto falls and miners crash.
The popularity of the stocks of crypto is being mirrored with the surge of GameStop Corp., along with other small businesses like Reddit. The quick establishment of finance is luring more new traders with risky bets.
David Yermack said, subjecting to Vulicevic that the crypto investor is young and male, which makes him more predisposed for taking risks.