Let me start by saying I know very little about cryptocurrency so am ready to be educated.
Anyway, I have a friend whose adult son has been dabbling in Bitcoin etc for a few years. He has actually made a few thousand from it. She has now told me that she has started investing in crypto, basically throwing money at it on her son's advice.
Her latest gamble is only a few hundred quid but she seems convinced she's going to make a life changing amount of money.
Apparently, her son is an 'early adopter' and has bought currency which is still in the testing phase for approval? This currency is not due to publicly float until next month and is only pennies to buy at the moment. However, the price has already risen in the past week and her son seems to have made about 30k on paper as he invested thousands. It's unknown to most of the public, all hush hush. I cant find any info on the net about it, but then I'm not on the 'inside'.
She's been told that by the time it launches it's going to be worth at least 40k a coin; which makes herself and her son multi millionaires when they sell on launch day! I'm intrigued by this, it's like a new share issue where insider traders make a killing. I'm wondering if I'm missing the biggest opportunity in history whereas my rational brain tells me crypto coins don't go from 10p - 40k in a month (not that I have access to it as her son is pretty secretive).
Her son can be a bit of a fantasist and has been caught out lying on a few occasions. Can anyone enlighten me? Either my friend is going to be massively disappointed or I am!