The YouTube star and rapper admitted to the loss during an interview with Made in Chelsea star Jamie Laing on the podcast Private Parts.
“I heard you put a lot of money into Bitcoin?” Laing asked, in reference to the cryptocurrency created in 2009 by a mysterious figure using the alias Satoshi Nakamoto.
KSI – real name Olajide Olatunji – told Laing: “I put £2m into Bitcoin.”
He continued: “Well, I say Bitcoin. I put [in] £2m last year – November, December – but this was into cryptocurrencies. I made £7m and now I’ve lost it all. It’s mental.
“It’s been a full journey, but I had to experience it. I fully understand it now. I put money in things where I essentially leveraged myself and I kinda over leveraged myself to a point where I lost money because of it.”
He said he “got liquidated because of the Bitcoin crash”, adding: “There’s no point crying over spilt milk.”
KSI disagreed that investing in cryptocurrencies is “gambling”, stating: “Bitcoin is here to stay; it is the future. It’s just no one want to accept it. I’ve lost £7m and i’m still fully crypto.”
Alex Mytton, also appearing on the podcast, told KSI he should “release another EP” to make the money back.