Wednesday, February 12, 2014 2:50:14 PM
In regards to his own personal bitcoin holdings in light of recent price volatility, Byrne said he remains unconcerned.
Citing the work of John Maynard Keynes, he spoke at length about the gap that exists between total wealth and the amount “sucked out of society by the financial system”. Bitcoin, he said, is a hedge against this gap.
“For me, bitcoin is what I want to have if the zombies walk the earth … I don’t really care about day-to-day fluctuations at all.”
On his recent fourth quarter company conference call, Byrne revealed that he invested “several million dollars” into bitcoin, an amount he now says is 1% of his net worth.
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