Bebo Shaan Puri, who is the Twitch director and former CEO of Bebo, announced he is putting 25% of his net worth into the bitcoin market.
A news post on Bitcoin News claimed that Shaan Puri, who is the director of Twitch, a streaming video platform owned by Amazon, said that he had invested 25% of his net worth into Bitcoin. He announced the popular social media platform Twitter.
Puri had simply tweeted, “I have moved 25% into bitcoin.” Puri was the CEO of Bebo, which was a social networking platform, but is now defunct. He was the CEO between 2017 and 2019 after it went bankrupt in the year 2013. Puri feels that Bitcoin is a force to reckon with.
According to Puri, Bitcoin presents a rare opportunity for institutional capital. Bebo went through a series of acquisitions, finally getting bought by Twitch, which belongs to Amazon. He is the Senior Director of Product.
Besides, Puri is an angel investor who spends $2.5 million on more than 20 startups annually. Anders Iversen, who is an avid crypto market analyst, had tweeted that “the world’s leading CEO’s are moving into Bitcoin, do they know something that we don’t.”
— anders iversen (@Andersiveien) December 11, 2020
Puri’s tweet has made waves in the Twitter world, with many expressing their shock and astoundment at this move. As of now, there were more than 250 comments, 2500 likes, and 150 retweets.
Few observers felt that 25% is a minimal amount for Puri, and few warned that the investment might not go as planned. He responded with another tweet saying that those are saying to move at 90%, the denominator matters.
The Twitch director feels that the cryptocurrency market is something that you cannot go wrong with. Besides, you can go far. Puri thinks that Bitcoin’s true colors will be seen and felt throughout the world in a few years.
This move comes as no surprise because several institutional investors are investing in Bitcoin. Their numbers are only increasing in Bitcoin. Strategists in JP Morgan studied that the funds moving out of gold exchange-traded funds (ETFs) are going in Grayscale’s bitcoin trust.
Besides, a greater number of firms have Bitcoin in their treasury reserves. Some of them include Nasdaq-listed Microstrategy. It owns more than 40,824 bitcoins, and the firm intends to purchase more for itself.