Around the world, relatively inexperienced investors are betting on ethereum, or ether, a virtual currency that shot up over 4,800 percent between January to June of this year. At its peak, that surge created roughly $35 billion in paper wealth and minted untold numbers of ether millionaires.
But since then, the value of ether — a barely regulated, risky and incredibly volatile cryptocurrency whose utility is largely speculative — has tumbled, erasing roughly $10 billion in value from the accounts of ether traders.
Are they ready to take their once-in-a-lifetime winnings off the table? Or are they true believers willing to risk the mountain of easy money because they genuinely think ether is the future of money?
We checked in with six traders to hear what they have to say.