Crypto Investor Who Bet Early on Ether Eyes New Blockchain Fund - Bloomberg

As Simon Seojoon Kim tells it, he started investing in Ether, the coin that fuels the Ethereum network, back in the year it started -- 2015.

His friends told him he was crazy as he ploughed a big part of his life savings into the new cryptocurrency. By the end of March 2017, he’d put in close to $400,000.

Then Ether began to climb.

Enjoying Bloomberg Wealth?

To read more articles based on your personal financial goals, answer these 3 questions that will tailor your reading experience.

While Kim’s investments are hard to verify, one thing is beyond dispute: Ether has surged in value compared to the start of 2017. In the past year, it’s up more than 10-fold. And Kim, meanwhile, has become one of South Korea’s most famous blockchain advocates. After raising a first blockchain fund in December, he’s planning a second one this month.

“He is like Yoda, the Jedi Master of cryptocurrency,” said Sean Park, a senior partner and managing director at Boston Consulting Group Inc. based in Hong Kong, who worked with Kim on a blockchain project.

Kim is a part of a burgeoning class of newly wealthy who made their money in virtual currencies. Bitcoin and Ether, the two largest tokens, continue to swing wildly, but both rose to records this year.

“The most successful investment is when you spot a fundamentally strong asset that’s either not getting much attention or being viewed negatively,” Kim said in an interview in Seoul, speaking about his early crypto bet.

The 36-year-old...



Read Full Story: https://www.bloomberg.com/news/articles/2021-09-06/crypto-investor-who-bet-early-on-ether-eyes-new-blockchain-fund

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.



Tags: