- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
The US Military Experiences an Investment Craze, with Cryptocurrency and Tech Stocks as the Main Investment Focus
BlockBeats News, December 2nd, according to The Wall Street Journal, a strong investment culture is sweeping through the US military. From tech stocks to cryptocurrency, the military is becoming a unique "investment club."
The report states that this trend is significantly changing the financial situation of service members. Porsches and Hummers in military base parking lots are becoming more common, and social media influencers in uniform are teaching their followers the path to wealth. However, this phenomenon also comes with significant market risks, as some service members' high leverage and concentrated positions have raised concerns about their financial situation in market downturns.
The article highlights several cases to demonstrate the high-risk nature of military investments. The story of Coast Guard Petty Officer Third Class Bryson Saunders is quite representative. He entered the market after hearing a comrade bragging about making money on Dogecoin, subsequently investing in Bitcoin and meme stocks like GameStop, stating, "I was trying to punch my ticket."
Navy Lieutenant Zach Rodriguez, while cruising the Pacific on an aircraft carrier, influenced by his peers, put half of his family's savings (over $100,000) into cryptocurrencies like Chainlink. He has experienced asset surges but also suffered a painful loss of $250,000 in a cryptocurrency scam. Today, he describes himself as a "bitcoin and chill" investor, holding around $1 million worth of Bitcoin and related company assets.
The article, through an analysis of IRS data, found that the US military played a significant role in the cryptocurrency market cycle from 2020 to 2021. The data shows that in 2021, among the top 25 US postal code areas with the highest proportion of individual tax returns declaring cryptocurrency receipts or disposals, 11 are located around military bases. Tax filers from some military bases participated at more than four times the national average rate.
You may also like
MegaETH Co-founder: 48 Hours After Leaving Dubai, I Reassessed the Entire Crypto Space
Web3 Winter Mass Exodus: Resignations, Closures, Transformations, and Acquisitions
Key Market Information Discrepancy on March 4th — A Must-Read! | Alpha Morning Report
During the weekend market closure, Hyperliquid more accurately predicted the Gold reopening price than Binance
OpenClaw thrusts crypto project Venice.ai into the spotlight as its token VVV surges over 500% in a single month
Different Rulings in Similar Cases: Why can Uniswap go free while Tornado Cash cannot?
In the next 5 years, Vitalik will expand Ethereum in this way
WBT Pulled a Quiet 15X While Everyone Was Watching Meme Coins
WBT, the native token of WhiteBIT exchange, surged from under $6 in 2023 to over $50 by 2026,…
Bank of Japan to Test Blockchain-Based Reserve Settlement Platform
Key Takeaways The Bank of Japan (BOJ) is leading the way as the first G7 member to explore…
Ethereum Price Prediction: Whales Impact 7th Red Month as RWA Sector Achieves $15B Record
Key Takeaways: Ethereum is on the brink of recording its seventh consecutive red month, indicating a potential prolonged…
VanEck’s Macro Bottom Thesis: Is the $60K–$70K Floor the Real Cycle Reset?
Key Takeaways VanEck CEO Jan van Eck asserts that Bitcoin is forming a macro market bottom around the…
WBT Did a Quiet 15X While Everyone Focused on Meme Coins
Key Takeaways WBT, WhiteBIT’s native cryptocurrency, has surged over 3,000% from its lowest point in late 2022 to…
Arthur Hayes Forecasts Bitcoin Price Surge to $750,000 by 2027 Due to Monetary Expansion
Key Takeaways Arthur Hayes, co-founder of BitMEX, forecasts Bitcoin’s price to reach $250,000 in 2026 and then surge…
Iranian Exchange Outflow Surges 700% Amid Stiffening USDT Sanctions
Key Takeaways: Iranian cryptocurrency exchange outflows surged by 700% following military strikes, signaling rapid capital flight from the…
Crypto Price Prediction Today 2 March – XRP, Bitcoin, Ethereum
Key Takeaways XRP is poised to potentially reach $5, driven by its role in stablecoin and tokenized asset…
Solana Price Outlook: Why A Billion-Dollar Loss Didn’t Deter This SOL Whale — What Insight Do They Have?
Key Takeaways A major institutional investor in Solana withstands a huge unrealized loss, maintaining confidence in the long-term…
Bitcoin Price Prediction: $1 Billion Floods Back Into Crypto ETFs — Is the Bull Run Restarting?
Key Takeaways A notable $1 billion has re-entered crypto exchange-traded products, hinting at potential upward momentum in Bitcoin…
Ethereum Price and BitMine Shares Jump 10% After Latest Treasury Buy
Key Takeaways BitMine Immersion Technologies has embarked on a bold move by purchasing a significant amount of Ethereum,…
App