Barry Silbert Reflects on Early Bitcoin Investment, Admitting He Would Have Made Greater Profits Simply Holding BTC

Barry Silbert, CEO of Digital Currency Group (DCG), shared a candid reflection on his early investments in Bitcoin during an appearance on Raoul Pal's Journey Man podcast.

Digital Currency Group CEO Barry Silbert has shared his thoughts on his early Bitcoin investments during an appearance on Raoul Pal’s Journey Man podcast.

The CEO, who first discovered Bitcoin in 2011, purchased the cryptocurrency for around $7-$8 per coin. As Bitcoin’s value increased, Silbert began investing in early-stage crypto projects, such as Coinbase and Blockchain. However, reflecting on his investment strategy, Silbert admitted that he would have made greater gains had he simply held onto the Bitcoin instead of seeking opportunities in other companies.

“I was using Bitcoin to make a bunch of those investments, and you would think, if you invested in Coinbase you would have done really well. Had I just held the Bitcoin, I actually would have done better than making those investments,” Silbert said.

His comments come at a time when Bitcoin’s future seems brighter than ever. Several government officials and crypto enthusiasts are discussing the possibility of substantial price increases for the flagship cryptocurrency in the coming years.

Specifically, aiming for a seven-figure price for Bitcoin within the next 10 is Michael Saylor, co-founder of Strategy. Furthermore, several countries are showing interest in Bitcoin, which could significantly bolster its reputation as a long-term investment.

Recently, Bitcoin's price could hit $1 million if the U.S. government decides to purchase 1 million BTC, according to Bitcoin Policy Institute (BPI) head Zach Shapiro. He highlighted the potential "global seismic shock" such a move would cause.

In a similar vein, the White House Crypto Council, headed by executive director Bo Hines, is exploring creative avenues to acquire Bitcoin for the U.S. Strategic Reserve. These methods could involve revaluing the U.S. Treasury's gold reserves, currently priced at $43 per ounce, despite a market rate of $3,300 per ounce. Additionally, trade tariffs could be utilized to fund Bitcoin acquisitions.

Several market analysts believe that Bitcoin may play a role in addressing the United States' growing national debt, which is estimated at $36 trillion. Asset management firm VanEck suggests that Bitcoin-backed financial strategies could contribute to a reduction of up to $14 trillion in the national debt.