Luxury Rehab Centers Introduce Treatment for Crypto Addiction – Here's Why
Addicted to watching your crypto portfolio balance? Can't stop staring at those crypto prices? There are now rehab centers for that.
The Balance is a rehabilitation center located on the Spanish island of Majorca - but is not for the empty of wallets. It reportedly cost one person a minimum of $75,000.
BBC talked to an individual who wanted to be called Don and who claimed to have lived in a private villa at the center for a four-week treatment, attended to by his very own butler and a personal chef. The treatment for this contemporary addiction included therapy, massages, yoga, and bike rides.
Don said this experience helped him "wean off crypto". He works in a company that processes central bank digital currency (CBDC) transactions, but was unable to stay away from monitoring prices and his portfolio balance, even if it meant not sleeping. Don was allegedly putting some $200,000 into crypto trades on a weekly basis.
The Balance was founded in Zurich, Switzerland, with properties in London and Majorca, describing itself as a "safe space enabling health and fulfilment". It is "a modern residential treatment center and a mental health clinic, unlike traditional rehab centers," their website says.
And, notably, this is far from the only center popping up across the world, promising to 'fix' addiction to cryptocurrencies.
Another individual, Jane, said she would go on three-to-four-day-long "trading benders", investing a couple of thousands when she just started trading in 2014, but ended up pouring "hundreds of thousands" in a single trade years later.
Keith had a dependence on sleep medications but discovered that the cause was crypto trading - something he had picked up during the COVID-19 isolation period.
Both Jane and
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