Ben Armstrong, better known as BitBoy Crypto is a famous cryptocurrency YouTuber and content creator who was in the news recently for losing all his wealth to the unpredictability of the crypto market.
From an enthusiast to an influencer, Ben Amstrong’s stint in the cryptocurrency industry had taken different turns before his eventual downfall, owing to the professional scandals he was allegedly part of.
Nevertheless, he was a strong face in creating and shaping public opinion about cryptocurrencies in general.
Ben Armstrong was particularly fond of Bitcoin and thus named his YouTube channel BitBoy Crypto in 2018.
Even though he was an industry sensation in the initial days of starting his YouTube channel, BitBoy Crypto, the volatility of the crypto market also affected his daily updates and led to his eventual downfall.
In this article, you will read about the successes and failures that Ben Armstrong encountered as a cryptocurrency influencer.
BitBoy Crypto: How Did It Begin?
Ben Armstrong ventured into creating a YouTube channel to simplify complex crypto concepts for ordinary people.
The channel showcased content from news videos and analysis to interviews with influential personalities in the crypto world.
Soon after he began his YouTube channel, Ben Armstrong became an authority in cryptocurrency, and his videos became central in shaping opinions and trends about the domain.
The subscriber base of his YouTube channel soon crossed 1.4 million. At the time of his ousting, the channel had more than 3 million subscribers.
Realizing his potential, Ben Armstrong founded BitBoy Crypto, High Throughput Productions, and HIT network. He also acquired a cryptocurrency named $ BEN.
BitBoy’s Path to Making It Big in the Field of Cryptocurrency
BitBoy Crypto saw a swift spike in the number of subscribers, and Ben Armstrong soon became an influential figure who published public opinion through his YouTube channel.
He generated huge revenue through sponsorships and affiliate marketing. There were times when the channel earned Ben Armstrong a monthly revenue of approximately $ 40,000, which made him one of the richest crypto influencers.
A substantial share of his revenue also came from the exclusive content that he sold through subscription-based programs.
He also started a podcast program of the same name, which earned him additional revenue.
The current net worth of Ben Armstrong is thought to be at an average of $ 20 billion, though he has never revealed the exact figure. He also shot to fame by buying a Lamborghini from his revenue as a crypto influencer.
Ben Armstrong’s affiliation with different cryptocurrency projects made as well as broke his reputation as a cryptocurrency influencer.
The following are some of the projects he promoted through his YouTube channel.
- DistX: Ben Armstrong associated with DistX to promote it as a “scam-proof” coin, but many of his followers incurred huge losses by investing in this crypto. Thus his association with DistX resulted in tarnishing his credibility as a crypto influencer.
- HEX: HEX is a high-interest blockchain certificate of deposit project. Ben Armstrong claimed that HEX was not a scam, but his claims were invalidated by its Ponzi scheme structure.
- SafeMoon: SafeMoon is a defi token, which BitBoy crypto promoted initially, but later he backed out from the promotion activities as he realized its lack of stability.
How did Ben Armstrong’s Downfall Happen?
The world of cryptocurrency is ill-famed to be highly volatile. No matter how knowledgeable the influencer is, the unstable nature of the crypto market can topple their predictions and question their credibility. The same was the case with Ben Armstrong.
Many of his followers lost trust in him after incurring losses by trading and investing in his advice.
His association with several meme coins made him a shady figure who made false testimonials for his benefit. He also faced allegations of substance abuse and harassment of his staff.
On August 27, 2023, Ben Armstrong posted on X that he was ousted from BitBoy Crypto, the company he founded, by the cofounders TJ Shedd and Justin Williams.
Soon after that, his fan following on YouTube reduced to a substantial low, causing him a huge revenue loss.
Ben Armstrong is now facing a “spiritual crisis”, as he terms it. The rise and fall of Ben Armstrong as a crypto influencer underline the most pronounced dictum that crypto is the “Wild West of Finance”; it can make you an overnight sensation, but the downfall can also be swift.
