Canadian Félix “xQc” Lengyel (26) is the biggest streamer on Twitch. With his escapades in games like GTA Online and his notorious marathon streams lasting over 16 hours, he has built a massive viewer base. In a livestream, he now sees the significant loss of the cryptocurrency “Bitcoin” over the last 5 days. Struggling to cope with the loss, he works himself up into the situation.
This is the situation:
- Many Twitch streamers have invested large sums in cryptocurrencies – especially since the Reddit mania surrounding GameStop. The millions of dollars they earn from advertising deals, exclusive contracts, Twitch Prime, and donations need to be invested somehow, and cryptocurrencies have lured in the last few years with explosive growth rates.
- The streamer xQc is considered, according to a leak, the “highest earner” on Twitch in recent years: He is said to earn 650,000 € per month just from subscribers.
- However, even though cryptocurrencies have skyrocketed in value over the last few years, the currency Bitcoin, along with the world economy, has faced turbulent times in recent days. This is due in part to high inflation rates, logistics problems caused by Corona in China, and the ongoing war in Ukraine with all its complications.
An important source of income for many streamers:
Bitcoin loses 22% in 5 days – 54% in 6 months
How much value has Bitcoin lost? The cryptocurrency Bitcoin has lost about 22 % of its value in the last 5 days:
- On May 6, one Bitcoin was worth $39,669
- On May 10, it is only $29,919
This corresponds to a loss of approximately 22%.
In the last 6 months, Bitcoin has even lost 54%, as the currency reached a peak in November.
xQc dreams of huge profit after the heavy loss
How does xQc react? In a livestream, xQc discovers the price of Bitcoin and is initially visibly shocked. He is holding a coffee mug, staring with his mouth agape at the screen and exclaims: “My brother!”
But xQc manages to pull himself together within seconds and falls into an ecstatic explanation frenzy about why it is actually good that he has lost so much money.
“Maybe it’s the key to lose more now to earn more.”
xQc then goes on a rhetorically wild path, increasingly immersing himself in his idea of “buying the dip” and multiplying his money:
“Maybe I’ve lost so much now: If I double my bet when it’s low, does it then quadruple on the way up? Boom!”
The climax of the passage is reached when he repeatedly underscores his fantasy of huge profits with comic-like exclamations: Onomatopoeically he builds himself a “rocket to Mars” and sits in the front row.
It goes down first, he loses everything, but then “BOOM”, “BANG”, “ZIP”, the money would multiply.
xQc smokes from the “Copium” pipe
What’s behind this: It’s hard to tell whether xQc means everything he says seriously. However, it is typical “Copium” behavior from investors who seek methods to cope with a price drop.
xQc goes through all the maneuvers in just a few minutes that people on the internet poke fun at when confronted with a stock market loss they are not accustomed to.
Conservative investors view many developments in recent years with skepticism: Through online brokers and mobile apps, especially young people can invest a lot of money in sometimes highly speculative assets.
That it is further fueled over Twitch may give some people a gut feeling:
Twitch streamer loses 8 million $, yells at viewers who advise him against gambling
