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Betting on cryptocurrency gains
The appetite of some young people for such investments has been growing despite MAS' warnings about the risks of trading in them
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Jolene Ang
When 21-year-old student Yong Jun put $2,800 into Ethereum in February this year, he did so with the view that it would be a long-term investment.
He was soon put to the test. In March, a digital art piece was sold as the world's most expensive non-fungible token for around 38,000 Ether, worth about US$69 million (S$93 million). The rally on Ethereum that followed saw his investment, in slightly over one Ether, balloon to around $5,800 on paper but he held on.
