Akon, the famous singer, songwriter, and producer has been spreading the word about cryptocurrencies since June when he announced plans to launch Akoin, his own cryptocurrency. The multi-millionaire recently discussed cryptocurrencies and the crypto world in an interview on Revolt TV’s Drink Champs podcast.
When the host of the podcast admitted that he did not understand what cryptocurrencies were, Akon replied, “nobody does” and went ahead to give an explanation by comparing cryptocurrencies to stocks:
It’s no different from the stock market... You buy shares of companies that are most trusted. You know they are going to make a profit. You know they’re going to yield an investment. You go there with your money because you know, these guys, in the next four, five or ten years, their projection said they are going to make triple what they are making now.
He concluded by saying:
When you look at cryptocurrency, it’s a little bit different but it’s kind of like the same concept, the way I understand it.
Akon added that he was still learning, as he keeps finding out more after getting involved with cryptocurrencies.
Akon later told his audience that an investment in Akoin was an “investment in the future of Africa.”
He also revealed that having witnessed a lot of things become digital overtime, he feels that crypto will be the future when it comes to currencies. He made mention of the move from cassettes to CDs, mp3 and streaming as examples from the music industry. In the music star’s opinion:
If you don’t invest in that (cryptocurrencies) now, if you don’t see that coming, you’re a fool.
Don’t Trust, Learn
The viewers of the podcast were also advised not to trust anything being said about cryptocurrencies but rather “learn the game” themselves. This comment was made after one of the hosts decided to invest $10,000 in Akoin, after he admitted that he didn’t know what he was doing but trusted Akon because he (Akon) was rich.
Akon also revealed that his cryptocurrency would be available for purchase in the upcoming month on various platforms. According to the hip-hop and R&B star, people would also be able to buy Akoin from ATM in the future.