In a filmed and recorded interview with Revolt, Akon expressed his deep interest in cryptocurrency, again. As we know, he started his own crypto, Akoin, earlier this year and isn’t shy to talk about giving investment advice or how crypto can change the world.
“I don’t know what cryptocurrency is….”
“Nobody does!” exclaimed Akon.
“I don’t know anything about making an investment, I’ll just give you some money and help me flip it… f*ck it.”
“It’s no different than the stock market, people buy shares, right … it’s all about trust. You buy shares because you know that in the next 5- 10 years they gon make triple what they making now, so you like okay that’s someplace I want to invest in. When you look at cryptocurrency, it’s a little bit different but it’s the same concept. Like people trust bitcoin (BTC). I’m still learning myself. But the more I get into it, the more I understand.” Akon explained.
“If you don’t see it coming, you’re a fool”
Akon goes on to explain that investing in his cryptocurrency Akoin is investing in the future of Africa. It is meant to empower the entrepreneurs. Crypto isn’t backed by anything, but it’s based on the network, popularity and trust factor. That’s how currency is, even USD. In layman terms, they compare it “like sneakers.”
Just like in his industry, music there is a constant evolution. From 8tracks to records, CDs, mp3s to streaming. And in the case of currency, the change went from stagecoaches, trading cattle/ gold, then creating the dollar and now, “the dollar is going to turn into something digital, too. Your credit card is digital but crypto is currency.” He goes on, “This crypto… is going to be the future in currency.”
Following Akon, Ol’ Dirty Bastard’s estate just released its own cryptocurrency, ODB Coin. Watch the full episode with Akon below: