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Murad Mahmudov has (again) attracted a lot of attention in recent weeks and established himself as one of the leading crypto analysts – analogous to Keith Gill, also known as ‘Roaring Kitty’, in the stock market. Mahmudov has reportedly turned an initial investment of just $2 into a fortune of more than $100 million over the past five years. This amazing feat was detailed by Pix (@PixOnChain), advisor to Mintify and researcher at Jirasan, and further analyzed by crypto analyst Rekt Fencer (@rektfencer) on X.
This is Murad
In 2020, he went bankrupt during the COVID crash
Now he’s a memecoin whale, making MILLIONS every day
Here’s how he did it — and what he thinks comes next 👇🧵 pic.twitter.com/jqv0pS2PT1
— Rekt Schermer (@rektfencer) October 8, 2024
From Bitcoin to Crypto to Memecoins
Murad Mahmudov’s entry into the world of cryptocurrency started in 2013 when he was an exchange student in China. Surrounded by forward-thinking colleagues who were deeply invested in Bitcoin, he developed an interest in digital assets early on. After a stint working with financial giants Goldman Sachs and Glencore, Mahmudov returned to the crypto world in 2016, fully embracing the role of a Bitcoin maximalist.
In 2018, he made headlines with a bold prediction: Bitcoin would reach $10 million per coin. This claim was considered bold even among staunch Bitcoin proponents. Despite his Bitcoin-centric philosophy, Mahmudov quietly collected altcoins, including Ethereum at $150.
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Building on his market insights, Mahmudov co-founded Adaptive Capital in 2019 with a number of colleagues. The fund initially performed better than expected, using a formula that seemed to consistently beat the market. However, the unforeseen global COVID-19 pandemic in 2020 has dramatically changed the economic landscape.
With significant long positions in Bitcoin, Adaptive Capital faced catastrophic losses as exchanges went down during critical trading periods. The fund eventually closed and returned the remaining capital to investors after a 55% loss.
This pivotal moment prompted Mahmudov to reassess his investment strategies. He took a break from active trading and re-emerged in June 2022 with a renewed perspective on the crypto market.
The Memecoin Supercycle
Mahmudov recognized emerging trends and shifted his focus to memecoins. He introduced the concept of the ‘Memecoin Supercycle’, stating that these tokens represent the next major growth opportunity in the crypto market.
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In a viral post on September 12, Mahmudov revealed his top ten high-conviction memecoin investments, complete with ambitious long-term market cap targets. Among them were tokens such as SPX6900 SSPX on Ethereum, which he believes could reach a market cap of $100 billion, claiming it is the “number one movement coin in the world” with a mission to “flip the stock market” .
His predictions were met with skepticism, with some labeling him as overly optimistic. However, his conviction remains unwavering. “I have spent the last ten weeks locked in my room doing nothing but studying Memecoins, quietly hanging out in their group chats, simply observing and studying their knowledge to develop conviction for my Top 10 Long Term Memecoin Plays. I will share all ten of them over the next ten days,” he wrote.
Mahmudov’s insights gained significant traction following his recent presentation at Token2049. According to Andrew Kang of Mechanism Capital, his talk at Token2049 “catalyzed the next wave of capital reallocation to memecoins.”
Crypto analyst Miles Deutscher summarized the key points of Mahmudov’s speech, noting the exceptional performance of memecoins in the current market cycle. Mahmudov emphasized that “assets will no longer rise simultaneously,” highlighting the clear outperformance of memecoins compared to traditional altcoins.
Murad’s recent speech at TOKEN2049 has sparked a memecoin frenzy.
It will change your ENTIRE perspective on crypto (and could bring you huge profits).
If you haven’t watched it yet, you MUST read this thread.
🧵: Abort @MustStopMurad‘s memecoin theory.👇
— Miles Deutscher (@milesdeutscher) October 8, 2024
He argued that memecoins meet retail investors’ desires for community, identity and excitement – elements often missing from utility-oriented altcoins. “Memecoins as a superior version of altcoins,” Mahmudov claimed. “Memecoins surpass altcoins by delivering what retail really craves: community, identity and excitement, not just potential profit. It’s not just speculation, it’s culture, Deutscher explained.
At the time of writing, leading Solana-based memecoin WIF was trading at $2.52, up 75% in the past three weeks.
Featured image created with DALL.E, chart from TradingView.com
Credit : www.newsbtc.com
