YouTuber-turned-professional Boxer Logan Paul lost quite a lot of money when he refrained from answering a Bitcoin investment call made by American DJ and stock market enthusiast Chantel Jeffries in 2017. To be specific, the Westlake, Ohio native lost an unrealized $2,500,000 worth of profit by refusing to invest in the cryptocurrency.
In the February 19, 2021 issue of the YouTube podcast Impaulsive, Logan Paul hosted Chantel Jeffries and detailed the three-year-old incidence while admiring Jeffries for her knowledge of unconventional industries.
"You surprise a lot of people when you come swinging your knowledge about Tesla and Bitcoin. New industries that you are surprisingly well-versed in. You coming on the podcast started with you sending me the text the other day. She goes, 'Do you remember when I convinced you to invest $500,000 back in 2017?' That was her... three years ago. Do you know what was worse? I didn't do it. I didn't f**king do it," Logan Paul said on the podcast.
According to Chantel Jeffries, Logan Paul's decision was an aggregate of wrong advice made by his managers about Bitcoin. Paul admitted his mistake on the podcast and took a jab at Chantes for 'not pushing hard enough.'
"You lost me $2,500,000 because I didn't invest in the Bitcoin. Just hit me up from now on. You didn't push hard enough (to convince me)," Logan Paul said to Chantel Jeffries.
Created in 2009 by an anonymous person or entity, Bitcoin is a digital currency that has seen massive price action after coming into existence. $1000 invested in Bitcoin in 2017 would have grown into approximately $18000 towards the end of 2020. So Logan Paul has a well-grounded reason to repent the decision he made in 2017.
Logan Paul failed to take a page out of his younger brother's book
Logan Paul's younger brother and fellow YouTuber Jake Paul broke the internet with the erstwhile short video application Vine in 2013 and invested his first earning of $100 into Bitcoin. Eight years later, the Bizaardvark star proudly flaunted his gains on Twitter.
Jake Paul made an impressive profit on the investment, and Logan Paul did not forget to commend his younger sibling for the feat on the podcast with Chantel Jeffries while sharing a very important detail. Jake Paul forgot his password for Bitcoin!
"Jake invested in Bitcoin his first ever Vine Cheque when it was at like $100. I'm talking about stage 1 Bitcoin. I think it amounted to like $150K to $200K but he forgot his password," Logan Paul said.
What happens when you forget the password to your Bitcoin digital wallet?
Bitcoin is a digital currency and losing the password means it is time to say goodbye to your wealth created. It is estimated that 20 per cent of the wealth in Bitcoin around the world is locked away because of forgotten passwords. So it seems like we have a lot to learn from Paul brothers' mistakes.
Read here: What is Logan Paul's Net Worth?