Cryptocurrencies
Crypto Newbies Have Family and Friends to Thank for Losses
Many investors nursing big losses from the plunge in digital assets were introduced to crypto by loved ones, making for awkward conversations now.
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Brian Hourigan, a New York-based real estate executive, prides himself on keeping a portfolio of assets with modest but predictable returns. Yet as cryptocurrencies rallied to records last fall, the 38-year-old made an uncharacteristically risky bet.
Hourigan invested $20,000 in Bitcoin and Ether in October, hoping to turbocharge his plan to buy an apartment. His inspiration: Adam Ghahramani, a close friend and crypto entrepreneur who was making a killing in digital tokens and had been enthusing about the sector for years.