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How an unemployed day-trader burned by both GameStop and dogecoin ended up owning 20 billion units of a cryptocurrency known as ASS coin

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2021-05-25 01:00:07

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One millennial investor vowed to "never again" miss out on gains from hyped-up cryptocurrencies. One $500 investment later, he's now the proud owner of 20 billion units of Australian Safe Shepherd, also known as ASS coin, Bloomberg reported.

In the article, titled "$ASS Coin Billionaire: Tales From the Fringe of the Crypto Craze," Bloomberg reporters detailed the wild ride of 38-year-old Eric Hackney, who opted to play the financial markets on the Robinhood app after losing his job during the COVID-19 pandemic, instead of work for $9 an hour.

The article described him as a "thrill-seeking amateur, goaded on by social media." Social media platforms have become a key part of the boom in retail trading, as a recent survey showed one in five investors has used Reddit to help them make an investment decision.