MLive: Matthew Roling on risk of investing in cryptocurrency
In the age of the Internet, memes have become currency and billionaires have become influencers. Dogecoin was born out of a joke, but with Elon Musk’s endorsement, the value of the cryptocurrency could mean real success or failure for its investors. While young investors are excited about the potential to get rich quick, Matthew Roling, a Wayne State University adjunct professor of finance, is worried the inflated hype will end in deflated bank accounts. “It makes my heart cry every time I see a post about it,” he said. “I just don’t want to see people get left holding the bag here.” Roling’s personal finance class includes lessons on cryptocurrency because it’s “captured the hearts and minds of millions” and is “frighteningly accessible” given the 24-hour online market. Roling approaches cryptocurrency with hesitancy in his classes likening it to gambling rather than a building block investment. He’s quick to remind students that speculative bubbles have burst in the past, pointing to the dot-com and housing market crashes.