The Manager did not clarify how much his assets amount or tThe Amount of Bitcoin he Bought. He foresees a big wave of Institutional Capital coming on bBitcoin soon.
Shaan Puri, Product Manager at Twitch, announced that he placed 25% of his equity in bitcoin (BTC). He did so, he said, to anticipate the “wave of institutional capital that will hit bitcoin in the next two years.”
Puri made his statements on the social network Twitter, and he provoked various reactions from other users. Some of them told him that only having 25% in bitcoin does not seem enough. “For all those who say they are at 90% … the denominator matters,” was his reply.
“I think you are late! Although multiplying by 10 your position is still a good thing!”, someone wrote to him by that means. Puri agreed: “That’s still good enough for a fool like me.”
Unlike other entrepreneurs such as Michael Saylor, CEO of MicroStrategy, who claimed to have purchased 17,732 bitcoins, Puri did not specify the purchased amount. He did just clarify when asked by a Twitter user, that it is about a quarter of his net worth.
“Bitcoin is the only asset where you can irresponsibly go long, and then everyone tells you that it is not enough. And they are probably right. “
Companies and institutions come to bitcoin.
Puri also wrote that the reasons why BTC is close to $ 20,000 differ from the previous all-time high, in December 2017. Even when he did not elaborate on this statement, it may refer to the massive invasion of institutional capital that entered bitcoin during 2020.
There are reports about bitcoin purchases from companies such as Stone Ridge, MassMutual, and MicroStrategy, which have so far bought an estimated figure of 888,000 BTC.
Besides, this year they made a series of announcements regarding the successful integration of services that includes bitcoin-recognized financial companies, BBVA, PayPal, and DBS, the largest bank in Southeast Asia are actually among these included companies.
Shaan Puri, is the hoster in the My First Million podcast,He’s also known as an “angel investor.” Before coming to Twitch, Puri had served between 2017 and 2019 as CEO of the defunct Bebo platform, one of the first social networks, active between 2005 and 2013.
What is Twitch and how does this platform work?
Twitch is the largest live streaming platform in the world and since its inception, It specializesin videogames broadcasts, but it offers more content of another type, such as music, lifestyle, talks with users, or sports.
This platform serves as a broadcaster for many important soccer clubs like Real Madrid, PSG, or Arsenal, each one having and managing their channel. The platform defines itself in this way: “Twitch is where millions of people meet life daily to chat, interact and create their own entertainment together.”
By Jenson Nuñez
