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I still remember that morning in 2022 when the collapse of FTX shattered my illusions about “easy money” in cryptocurrencies. Bitcoin fell 78% from $69,000 to $15,700, and I, Julio, who had believed in technology all my life, felt the ground beneath my feet, called “speculative dreams,” crumble. This event was not just a statistic — it destroyed the dreams of thousands of retail traders who, like me, were looking for instant profits.
Many years later, Mike Novogratz voiced the fact that tokenized assets would replace speculation in the future. He expects the industry to shift from high-yield speculation to more practical things, such as tokenized real assets, which offer more stable returns.
I wasn't the head of Galaxy, but I had to not only explain the situation to investors, but also rethink my own strategy. It was no longer possible to live the dream that cryptocurrencies were easy money. Speculation, greed for quick profits, bets on crazy growth — all of this was shattered by the real world, where the market punishes slowness and unpreparedness, as well as a lack of discipline.
I saw retail investors coming into the market thinking about 10x, 15x, or even 30x returns — I myself once dreamed of easy paths to success. But after the liquidations in the fall of 2022, it became clear that the focus had to shift away from speculation. Those who want to survive must look for real assets and tokenized projects that bring stable but moderate returns without flattering, empty promises of magical upsurges.
I have weathered more than one financial storm, and I am sure that this one will not be the last. But it was after such harsh lessons that I learned a lot and realized that success is not about playing for maximum gain, but about thinking long term. Cryptocurrencies can play a role in financial infrastructure, and blockchain technologies open the door to new opportunities, but the days of “gold mines for everyone” are over.
Today, I am telling this story not as an analyst or a market player (in the past), but as a person who has learned from very painful mistakes and emerged stronger from them. If you want to build your financial life, don't look for easy ways. Be prepared for hard work, analyze risks, don't be afraid of setbacks, and remember: investing is always a marathon, not a sprint. Only those who understand that real value comes from real assets, not instant speculation, have a 100% chance of stable success.
