LD Capital founder sells crypto, says Mideast turmoil could be a buying opportunity

Jack Yi, founder of LD Capital, announced on X that he has sold his crypto holdings at a loss and is now monitoring the situation in the Middle East. This move comes after he stated on March 17 that he had invested all of his personal assets into cryptocurrency. Yi explained that the conflict in the Middle East is lasting longer than anticipated, and the responses from Russia and other global powers have been unexpected. These factors are contributing to rising oil prices and a broader risk-off sentiment across asset markets, he said. Yi also noted that liquidity in the crypto market has been declining since the record-breaking liquidations on Oct. 11 of last year. He added that the departure of retail investors and stricter regulations on major platforms have weakened market sentiment, preventing the typical rebound that usually follows a sharp decline. However, Yi suggested that this extreme downturn could present the best opportunity of the year to buy the dip. He compared the current situation to when Bitcoin fell to $16,000, noting that in retrospect, there was little difference between buying at that price versus $20,000.