'crypto trading is a sub-variety of gambling'
Inside The World Of High-End Crypto Rehab Centers, Where A 4-Week Stay Can Cost You $320,000 And No Luxury Is Spared
While the crypto industry made a few people very rich, it also came with problems — including addiction. Enter: luxury crypto rehab centers.
Below, Insider has taken a look at the price tags and offerings at three luxury crypto centers around the globe, each of which claims to be the best in its field.
The Balance: A 4-week stay starting at $192,000
[The Balance, Campo Gran, Spain. The Balance]
"With crypto addiction, it's all the time around the clock, and there is no market closing," Abdullah Boulad, the founder and CEO of The Balance, a luxury crypto rehab center, told Insider. "That's why we say it's like a casino in your pocket," he added.
Boulad started the crypto program roughly six years ago in Switzerland and said he sees about a hundred clients a year. Most of these are entrepreneurs between the ages of 30 and 45 and are mostly men, he said.
[The Balance owns 10 properties across Mallorca, Zurich, and London. The Balance]
Today, The Balance has 10 properties across Spain, the UK, and Switzerland. It calls itself the "world's best luxury rehab center and mental health clinic" and a "safe haven where you can find recovery, peace, rest, and happiness." People in the rehab program get access to a personal manager, a chef, and 70 specialists such as doctors, psychologists, and psychotherapists, per Boulad.
It doesn't come cheap: A typical four-week crypto rehab program at The Balance costs between 180,000 euros and 300,000 euros, or $192,000 and $320,000.
The Diamond: $25,000 for 28 days of treatment
[At The Diamond in Thailand, 15 villas sit atop a mountain overlooking the Andaman Sea. The Diamond rehab center, Thailand]
In Asia, $25,000 for 28 days will get you an "ultra made to measure" treatment at The Diamond, a luxury rehab center in Phuket, Thailand, its managing director, Theo de Vries, told Insider.
Here, 15 rooms sit atop a mountain overlooking the Andaman Sea. De Vries said clients have access to five clinical psychologists, four clinical addiction counselors, one psychiatrist, 24-7 nursing staff, four clinical support staff, and eight 5-star Thai hospitality staff members.
[The Diamond rehab center, Thailand. The Diamond rehab center, Thailand]
And then there's the property's luxury offerings: a spa, golfing, boat trips, and sporting activities.
"Whatever is possible without using drugs or alcohol," de Vries said, adding: "Phuket is the perfect location for this kind of clientele."
The Diamond started offering crypto rehab services at the beginning of 2021. About one in 40 inquiries de Vries gets is about crypto addiction, he said. These inquiries seem to remain constant, irrespective of market fluctuations, he said.
Paracelsus Recovery: $100,000 per week for a 4-week program
At about $100,000 a week, Paracelsus Recovery offers a four-week residential treatment program to treat crypto addiction.
Paracelsus started offering the treatment in 2020, CEO Jan Gerber told Insider.
Paracelsus — which owns four residences in Zurich, Switzerland — offers lakefront properties, complete with a "private chef and maid, a private client suite within the residence, and a separate suite for a 24-hour live-in therapist," per Gerber.
[Paracelsus Recovery residences. Paracelsus Recovery]
Services at Paracelsus include the use of Bentley limousines and a dedicated driver for appointments or excursions, Gerber added. They can even arrange a piano for a client who would like to hone their skills and set up high-end sound systems, gaming consoles, VR, and even Netflix for the clients, he said.
Since 2020, the center has treated two or three clients annually for crypto addiction.