How this investor lost 100 million dollars to crypto

Ran Nunner's investment journey highlights the high stakes and potential pitfalls of the cryptocurrency market. Niner's financial trajectory took a disastrous turn when he became the youngest CEO of a publicly listed company in South Africa.

It suffered a $100 million loss, mainly due to its investment in Terra (LUNA).

Losing 100 million dollars to crypto

Ran Nener's story begins with early success. To face the harsh reality of financial loss in 2020, the business world has risen to a remarkable height. The impact of this loss was profound, affecting not only his financial stability but also his mental health.

Neuner describes this period as one of the darkest in his life. He described the emotional toll of losing hard-earned wealth and the luxury of financial freedom.

“I went into a bit of a dark depression. It wasn't a real depression. I wasn't on any drugs or anything, but I call that a pity party, and that's a sad time. You have to grieve as part of the human process because it makes you fight harder,” Nunner said.

Neuner's rise in wealth was closely tied to his strategic investments in Bitcoin (BTC) and LUNA. The latter formed a significant part of his portfolio. In fact, his initial investment in LUNA's Initial Coin Offering (ICO) and low-cost acquisition eventually built a portfolio worth over $100 million.

However, this success story took a turn for the worse when LUNA's price dropped. It wiped out most of Newner's fortune in a matter of days. This loss was a financial loss and a deep psychological and emotional challenge.

Neuner's experience highlights several important lessons for investors, especially in the high-risk, high-reward domain of cryptocurrency. He even admitted that he was blinded by greed and was too devoted to one possession, which ultimately led to his downfall.

“I was greedy. I thought I could make a lot of money on LUNA, and the greed would kill me because I took stupid risks,” Neuner added.

Lessons learned from failure

Neuner's first mistake was allowing one token to dominate his portfolio. This decision was driven by greed and the lure of quick profit. After all, this approach contradicts the basic investment principle of diversification, which is designed to reduce risk.

Investing heavily in a project with the associated stable coin shows the dangers of over-believing in one asset or idea.

The second lesson from Neuner's test is the importance of remaining open to criticism. Reluctance to accept the first warning given by the LNA about the sustainability of the investment option, in particular, shows the danger of investing too passionately in any asset.

“I was so engrossed in LUNA that I never listened to the critics as it would change financial history around the world. I stopped listening to critics and instead of listening to them I would fight them back. I believe there is a healthy debate, but I've learned this time, no matter how small my Twitter account is, I listen to all criticism,” Nunner affirmed.

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Ultimately Neuner realized that success in investing is not about quick profits. Instead, preserving wealth over time represents a fundamental change in approach. The Tortoise and Hare style perfectly illustrates the art of patience and consistency in chasing the latest news. This mindset shift is critical for anyone who wants to successfully navigate the crypto markets.

Taking a cautious approach, focusing on long-term stability rather than short-term gains and ensuring a balanced portfolio are key strategies to reduce risk.

Neuner's story is a powerful reminder of the dangers in cryptocurrency investing. It also emphasizes the importance of following a disciplined, well-thought-out approach. The lessons he shared are useful for crypto investors and anyone looking for high-risk investments.