Bitcoin has been making headlines since the end of 2017 as the value of the cryptocurrency sees dramatic highs and lows. The highest the currency has ever seen was past 17K and just today, the coin dropped below 10K.
West Coast rapper Nipsey Hussle is a proud ambassador for the currency and has been following the trend since back in 2013. He even owns part of the Amsterdam-based crypto company Follow Coin - a trusted site that informs potential investors of the market happenings.
Nipsey recently linked up with XXL to discuss his involvement and explain why he stands by his investments. "To see Bitcoin go to $17,000 [last year]—even me, as somebody that was on it early—that caught me off guard. It made me even zoom in a little bit more," he said.
Nipsey is well aware of the drop in value and the fact that the exchanges aren't regulated, agreeing "with the critics saying "be careful.""
"And don't think that you found a get-rich-quick scheme. I don't think that's what this is," he added. "Look at the reality of what’s going on—it makes perfect sense for there to be an unregulated peer-to-peer currency that people can exchange goods and services via, without it being linked to a central bank. And it's no ulterior motive. It's honest, between the two parties. And the transaction is transparent. So, where is the flaw in that?"
The "That's How I Knew" rapper is confident this form of monetary exchange will eventually take over and become the norm. "I don’t think it’s gonna slow down no time soon," he said.
His advice to those looking to invest and take part in the Bitcoin craze is simply "educate yourself" and "do your research. As for his personal profit in the market, with he and his brother investing, he doesn't want to reveal too much. "But we did benefit from the upswing that happened in 2017," he said.