Barry Silbert, CEO of Digital Currency Group, revealed that he would have had higher returns if he had simply held Bitcoin (BTC) instead of investing in early-stage cryptocurrency ventures.
Silbert recalled on Raoul Pal's podcast 'Journey Man' on April 17th that he first discovered Bitcoin in 2011 when the price was around $7-8 per coin. He soon began investing in early cryptocurrency companies like Coinbase following the price increase.
He specifically noted, "At the time, I invested in various startups using Bitcoin" and "Logically, investing in companies like Coinbase seemed promising, but ultimately, holding Bitcoin would have yielded higher returns." This candidly illustrates the gap between startup investment uncertainties and expected returns.
These comments come at a time when long-term optimism about Bitcoin is gaining momentum. Bitcoin maximalists, including Michael Saylor, co-founder of Strategy, predict Bitcoin will reach seven-digit prices (over $1 million) within the next 10 years. Additionally, Trump's pro-cryptocurrency stance has heightened market interest and attracted significant attention from governments and institutional investors.
Silbert's anecdote carries a subtle lesson beyond mere investment returns: in the volatile early market, Bitcoin itself might have been the most powerful asset, rather than the underlying technologies.
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