Play Dumb Get Rich
2021 could be the year where the classroom clown act to be popular at school has graduated to investing with play dumb get rich.
A piece in Young Money has revealed how the play dumb get rich strategy has made a mockery out of serious investing.
With the system awash, with central bank funny money playing the buffoon was incredibly lucrative this year.
So, without further ado, here are a few play dumb get rich investment strategies that you could have made in 2021.
Buying anything with a cute doggy face in the crypto space was one way to play dumb get rich
So, there is no need to intellectualize the impact of crypto with utility as 2021 was the year of the dog for cryptos.
Now let’s start with 100,000 USD, and the game is to find five of the most incredibly dumbest things to invest in as soon as you hear about it.
Every dog has his day, take Dogecoin, which started as a joke.
During one of the early crypto bubbles in 2013, programmers Jackson Palmer and Billy Markus started Dogecoin to satirize Bitcoin by turning the viral “doge” meme into a cryptocurrency.
Then on April Fool’s Day 2019, the official Dogecoin Twitter account decided that the meme coin needed a CEO. It posted the following poll on Twitter:
“We have listened to your concerns. We have decided that Dogecoin does need a CEO. Someone who can lead us into the future while maintaining the core values of what we are. Below are the candidates, vote wisely.”
Three main candidates were put forward, Vitalik Buterin from Ethereum, Elon Musk CEO of Tesla and SpaceX, Marshall Hayner CEO of Metal Payments.
Elon Musk secured 54.4% of the vote.
Musk took pride in his new role, and he became a diligent Dogecoin tweet pumper. His last tweet pumped DOGE 20%, as it was still trading for less than half of a cent.
Applying the play dumb get a rich strategy with Dogecoin, a 20,000 USD investment from January 27 to January 29 would have grown to 80,000 USD
That is 60K USD on the 20K capital in 48 hours by investing in Dogecoin, which started as a joke!
SHIBA INU is another cute dog coin and Musk tweet which underscores how lucrative the play dumb get rich strategy has been in the cryptocurrency space
This time it was Musk’s cryptic tweet about a Chinese poem which sent traders on the next dog hunt and that sent
Shiba Inu cryptocurrency is on its way “to the Moon”. SHIBA rose 50% in less than 24 hours, turning 20K USD investment into 30K in a day.
There were also some lucrative investments in the play dumb get risk stock market
Take, GameStop, the greatest short burn of the century where investing in a poorly managed video store wrecked by the lockdowns made investors rich.
Indeed, GameStop was the game that never stopped. A trading frenzy caused GameStop stocks to jump around 1,600% in a matter of days. If an investor had bought GameStop before the frenzy and sold at the peak, a 20K USD investment would have grown to 320,000 USD.
AMC Entertainment was another play dumb get rich short squeeze melt up where the stock traded as high as $72.62 and as low as $1.91 over 52 weeks.