Twitch director and former CEO of Bebo Shaan Puri announced that he has invested 25% of his net assets in Bitcoin. He believes that Bitcoin provides “a rare opportunity to preempt a wave of institutional capital.”
Shaan Puri invested 25% of Bitcoin
Shaan Puri, director of Amazon-owned streaming video platform Twitch, announced via Twitter on Thursday that he has transferred 25% of his net worth to Bitcoin.
After the company went bankrupt in 2013, Puri served as the CEO of the now-defunct social networking platform Bebo from 2017 to 2019. The platform has undergone a series of acquisitions, and then was acquired by Amazon’s Twitch last year. Senior product director. He is also an angel investor and spends about $2.5 million on 25 startups every year.
Puri tweeted to its 25.6k fans on Thursday:
I have transferred 25% of my funds to Bitcoin.
At the time of writing, this tweet had 234 comments, 2.4k likes, and 132 reposts. Many people commented that 25% of it was too small for Puri, and some warned him that his Bitcoin investment will not end smoothly. However, Puri did not disclose the value of the investment. About 10 hours later, he went on to post another tweet, which read: “For everyone, your 90% denominator is important.”
Although his initial tweet did not specify 25% of the content, a Twitter user asked him if he mentioned his net worth. Puri replied: “Yes.”
The director of Twitch believes: “Bitcoin is the only asset that can be used irresponsibly for a long time – then everyone tells you that this is not enough. They may be right,” elaborated:
I think this is a rare opportunity to enter a wave of institutional funds in advance in the next two years, which will flow into BTC.
In addition, Puri wrote: “I think people think that reaching $20,000 this time is’just like last time,’ but it’s not for many reasons.”
Recently, more and more institutional investors have expressed interest in investing in Bitcoin. JPMorgan analysts have been observing the movement of funds from the gold exchange-traded fund (ETF) into Grayscale’s Bitcoin trust for months. A Fidelity survey revealed that 60% of institutional investors believe that Bitcoin has a place in their portfolio.
In addition, more and more companies are also adding bitcoin to their inventory reserves, such as a micro-strategy company listed on Nasdaq, which now owns 40,824 bitcoins and plans to buy more bitcoins.
Do you think Shaan Puri should invest more money in Bitcoin? Let us know in the comments section below.
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