Barry Silbert Would Have Made More Money Just Holding Bitcoin

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

Barry Silbert, CEO of Digital Currency Group, revealed that he would have secured higher investment gains by simply holding onto the Bitcoin (BTC) that he used to invest in early-stage crypto projects around 2012.

During an April 17 appearance on Raoul Pal's Journey Man podcast, Silbert shared his journey discovering BTC in 2011 and purchasing it at $7-$8 per coin. As the price of BTC surged, Silbert began investing in promising early-stage crypto companies.

Reflecting on those early days of crypto investing, Silbert said:

I wish I had just kept the Bitcoin. I invested in some great companies, but if I had just held onto the Bitcoin, I think I would have done even better.

Silbert's comments come as Bitcoin maximalists, including Strategy co-founder Michael Saylor, are predicting a seven-figure Bitcoin price in the coming decade, and BTC is receiving greater attention from governments globally.

Earlier this week, the Bitcoin Policy Institute (BPI) think tank's head, Zach Shapiro, predicted that BTC would hit $1 million per coin if the US were to announce purchasing 1 million BTC.

"If the United States announces that we are buying a million Bitcoin, that’s just a global seismic shock," said Shapiro.

The executive added that the move would spur several other nations to follow suit, ultimately leading to a "blow-off top" in the price of BTC to $1 million per coin.

Moreover, Bo Hines, the executive director of President Trump's White House Crypto Council, hinted at the council's exploration of several budget-neutral strategies for acquiring more Bitcoin for the US Strategic Reserve.

Hines signaled that the council is considering revaluing the US Treasury's gold reserves, currently priced at $43 per ounce despite a market rate of $3,300 per ounce, and funding Bitcoin acquisition through trade tariffs.

Several legal frameworks and bills have been proposed in the US Congress to recognize Bitcoin as a legal tender and encourage the government to invest in BTC.

Recently, asset management firm VanEck analyzed how allocating a portion of the US Treasury's portfolio to Bitcoin could help claw back the $36 trillion national debt.

According to VanEck's analysis, introducing long-term bonds with BTC exposure could help reduce the national debt by $14 trillion over 30 years.