A top executive of a crypto asset management firm says the financial struggles experienced by most Americans are driving them to seek greater risks in altcoins for a chance to see gains.
Ikigai CIO Travis Kling says on the social media platform X that he sees a “palpable component of financial nihilism” in American society.
According to Kling, the American dream is no longer as easy to achieve as it once was and it is pushing young Americans to venture into riskier crypto assets like memecoins.
“The idea that the cost of living is strangling most Americans; that upward mobility opportunity is out of reach for increasingly more people; that median home prices divided by median income are at a completely untenable level.
All of that is true, so you need to really swing for the fences.
Why not put $500 into a memecoin that could 50x, knowing that you could likely lose most or all of it? It’s not like the $500 is enough to make any difference anyway…
That mindset, which is beco
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