Barry Silbert, the CEO of Digital Currency Group, said he would have secured higher investment gains by just holding the Bitcoin that he invested in early-stage crypto projects around 2012.
During an April 17 appearance on Raoul Pal’s Journey Man podcast, Silbert said he discovered Bitcoin (BTC) in 2011, purchasing BTC at $7-$8 per coin. Once the price of BTC surged, Silbert started looking for early-stage crypto companies to invest in. The executive told Raoul Pal:
« I was using Bitcoin to make a bunch of those investments, and you would think, if you invested in Coinbase you would have done really well. Had I just held the Bitcoin, I actually would have done better than making those investments. »
Silbert’s comments come at a time when Bitcoin maximalists, including Strategy co-founder Michael Saylor, forecast a seven-figure Bitcoin price in the coming decade, and BTC receives greater attention from governments worldwide.
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Bitcoin could hit $1 million if US begins buying BTC
Zach Shapiro, the head of the Bitcoin Policy Institute (BPI) think tank, recently predicted BTC would hit $1 million per coin if the United States government were to purchase 1 million BTC.
“If the United States announces that we are buying a million Bitcoin, that’s just a global seismic shock, » Shapiro told Bitcoin Magazine in an April 16 podcast appearance.
Bo Hines, the executive director of President Trump’s White House Crypto Council, signaled that the council is exploring several budget-neutral strategies for acquiring more Bitcoin for the US Strategic Reserve.
These strategies included revaluing the US Treasury’s gold reserves, which are currently priced at $43 per ounce while the market rate is at an all-time high of $3,300 per ounce, and funding Bitcoin acquisition through trade tariffs.
BTC has been floated as a way to eliminate or alleviate the growing national debt by President Trump and several market analysts.
According to asset management firm VanEck, Bitcoin could help claw back the $36 trillion national debt by $14 trillion if the US Treasury introduces long-term bonds with BTC exposure.
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