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Murad Mahmudov has recently captured the spotlight, establishing himself as a prominent figure in the realm of cryptocurrency analysis. Often compared to Keith Gill, famously known as “Roaring Kitty” in the stock market, Mahmudov has reportedly turned an initial investment of just $2 into a staggering fortune exceeding $100 million within the past five years. This incredible financial journey was unveiled by Pix (@PixOnChain), an advisor to Mintify and a researcher at Jirasan, and further analyzed by the crypto analyst Rekt Fencer (@rektfencer) on X.
From Bitcoin Enthusiast to Crypto Visionary
Murad Mahmudov’s foray into the world of digital currencies began in 2013 during his time as an exchange student in China. Surrounded by innovative peers deeply invested in Bitcoin, he nurtured an early fascination with digital assets. After gaining professional experience with financial titans such as Goldman Sachs and Glencore, Mahmudov re-entered the crypto landscape in 2016, wholeheartedly embracing the role of a Bitcoin maximalist.
In 2018, Mahmudov made waves with a bold prediction: Bitcoin would eventually reach a staggering $10 million per coin. This audacious claim stood out even among the most fervent Bitcoin supporters. Despite his strong Bitcoin-centric ideology, Mahmudov quietly amassed altcoins, including Ethereum, when it was priced at a mere $150.
Adapting to Market Dynamics
Leveraging his deep market insights, Mahmudov co-founded Adaptive Capital in 2019 alongside several colleagues. The fund initially surpassed expectations, employing a strategy that consistently outperformed the market. However, the unexpected global COVID-19 pandemic in 2020 radically altered the economic landscape.
With substantial long positions in Bitcoin, Adaptive Capital encountered catastrophic losses as exchanges experienced outages during crucial trading periods. Consequently, the fund was forced to close, returning the remaining capital to investors after sustaining a 55% loss.
This pivotal experience prompted Mahmudov to reevaluate his investment strategies. Taking a break from active trading, he resurfaced in June 2022 with a fresh perspective on the ever-evolving crypto market.
The Emergence of the Memecoin Supercycle
Recognizing emerging trends, Mahmudov shifted his focus to memecoins, introducing the concept of the “Memecoin Supercycle.” He posited that these tokens represent the next major growth opportunity within the crypto market.
In a viral post on September 12, Mahmudov revealed his top ten high-conviction memecoin investments, complete with ambitious long-term market capitalization targets. Among them were tokens like SPX6900 SSPX on Ethereum, which he believes could reach a $100 billion market cap, asserting it as the “number one movement coin in the world” with a mission to “flip the stock market.”
Challenging Conventional Investment Wisdom
Mahmudov’s predictions met with skepticism, with some critics labeling him as overly optimistic. Nevertheless, his conviction remained resolute. He shared, “I’ve spent the last 10 weeks locked in my room doing nothing but studying Memecoins, silently hanging out in their group chats, simply observing and studying their lore to develop conviction on my Top 10 long-term Memecoin plays. I will be sharing all 10 over the next 10 days.”
His insights gained significant traction following his recent presentation at Token2049. According to Mechanism Capital’s Andrew Kang, Mahmudov’s talk at Token2049 “catalyzed the next wave of capital reallocation into memecoins.”
Breaking Down Mahmudov’s Memecoin Theory
Crypto analyst Miles Deutscher summarized the key points of Mahmudov’s speech, highlighting the exceptional performance of memecoins in the current market cycle. Mahmudov emphasized that “assets will no longer move up in unison,” underscoring the distinct outperformance of memecoins compared to traditional altcoins.
He argued that memecoins fulfill retail investors’ desires for community, identity, and excitement—elements often missing from utility-focused altcoins. “Memecoins as a superior version of altcoins,” Mahmudov asserted. “Memecoins are outpacing altcoins by delivering what retail actually craves: community, identity, and excitement, not just potential gains. It’s not just speculation, it’s culture,” Deutscher explained.
At press time, the leading Solana-based memecoin WIF traded at $2.52, marking a 75% increase over the past three weeks.
