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In the letter
- Popular YouTuber Andrei Jikh revealed his $ 100,000 investment in Bitcoin and Ethereum.
- Instead of just holding, Jikh is using crypto lending platforms to earn interest on his coins.
- The YouTuber has already more than doubled its initial investment during the current bull run.
Andrei Jikh, host of a popular YouTube channel focusing primarily on personal finance and investments, bought Bitcoin (BTC) and Ethereum (ETH) for $ 100,000, he revealed to his 977,000 subscribers in a video released on Friday.
Jikh revealed that he currently has 7.5 BTC (about $ 145,000 today) and 120 ETH (about $ 72,000). His crypto cache was worth around $ 192,000 when he posted the video.
Both Bitcoin and Ethereum have risen since Friday, so its stock has allegedly increased to around $ 217,000. This means that Jikh has likely already made over 100% profits since his initial $ 100,000 investment was made (Jikh also invested another $ 10,000 after his initial buy-in). Some of these, however, stem from interest in his holdings.
The YouTuber explained that he used the Winklevoss-backed cryptocurrency exchange Gemini to buy his coins because “he has always used them and because they keep 95% of their currencies in cold storage and are regulated by the book”.
But instead of just keeping them, Jikh sends its coin to BlockFi, a cryptocurrency platform that allows its clients to earn up to 8.6% in annual percentage returns.
“I also use BlockFi because they are supported by some of the biggest players in the industry, such as Winklevoss Capital and Coinbase,” Jikh noted.
Among the events that prompted him to buy cryptocurrencies, he cited Jikh Decrypt’s article about MicroStrategy’s $ 425 million Bitcoin investment which helped pave the way for institutional adoption of cryptocurrencies. The YouTuber also mentioned the grayscale announcement he has over $ 10 billion worth of BTC and cryptocurrencies under his management.
Other positive news for Bitcoin adoption, according to Jikh, included Ricardo Salinas Pliego, Mexico’s second richest man, investing 10% of its liquid portfolio in BTCand the endorsement of cryptocurrencies by traditional celebrities such as Maisie Williams.
That’s almost too much news to go into a YouTube video.
