What determines whether you’ll hang onto your crypto wealth and sanity?

Sudden Wealth Syndrome (SWS) refers to a type of psychological distress that arises from abruptly coming into large sums of money.
The America Psychiatric Association’s Diagnostic and Statistical Manual of Mental Disorders does not mention SWS specifically. However, psychologists and psychiatrists tend to classify SWS as a form of identity disorder.
Wealth psychologist Stephen Goldbart coined the phrase in the 1990s, well before the advent of Bitcoin (BTC) and cryptocurrency, through his work with dot-com millionaires.
Goldbart’s work has also covered lottery winners, who are renowned for going from rags to riches, then back to rags once more. Indeed, this phenomenon is so commonplace it has its own terminology – the lottery curse.
In recent times, thanks to crypto, there’s a new breed of overnight wealthy. However, unlike the Silicon Valley dot-com millionaires, a significant portion of the crypto wealthy did not work 80+ hours a week to push technological innovation.

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