I have a friend whos a multi millionaire. Double digits. He got burned on LTC by buying it above $300 when stupid TV was pumping it
If your friend keeps investing like this he won't be a millionaire for long. How could he buy LTC at $300 seeing that it was $4 one year before?
I would not buy even a Van Gogh after an 80X price rise in one year, or even a bitcoin.
People getting investing advice from the TV will get REKT on any market, and they better stay out of crypto, both for themselves and the already scarce sanity of this market. We already have enough pump chasers.
Some people got their fortune by inheritance and/or luck. Others know about their field and that made them rich, but donno about others. Many lost their fortune even faster than they gained it... usually due to big mistakes they made when they stepped out of their comfort/expertise zone.
This guy is not completely stupid. He has realized crypto is not for HIM. And maybe he is completely right.