Bitcoin has experienced a big increase in value lately, rising to $2,500 per unit this month. And poker pro Dan Bilzerian was attracted to this growth, recently investing lots of money into the market.
As reported by Bitcoin.com, Bilzerian sent this message to his 22 million Instagram followers:
“just bought a sh*tload of bitcoin. It’s so crazy watching that sh*t f**king go up it’s like, betting a bunch of money on the Super Bowl.”
The site reported that countless other investors are jumping aboard the Bitcoin train thanks to its incredible growth.
And many mainstream outlets are reporting on the matter too. Here’s an excerpt from Bitcoin.com that explains this phenomenon:
“Bitcoin can be seen on television as news broadcasts such as Fox, NBC, and CNBC are reporting on the subject regularly. Additionally, the decentralized currency is being featured in editorial publications such as Market Watch, Time Magazine, Forbes, Business Insider, Bloomberg, and the New York Times.
For instance, on May 26 the investment news outlet Market Watch headline reads; ‘Wall Street laughed at a call for bitcoin at $25,000 — but after a 400% surge, the laughter is fading.'”
It hit a peak of $2,800 during this week, only to plunge to $2,000 after a market correction.
Before the correction, Bilzerian ironically wrote, “If that’s not a sign of a bubble idk what is lol.”
Perhaps Bilzerian would’ve been better off wagering on the Super Bowl like he joked. Of course, this isn’t to say that he’s screwed on the investment.
Bitcoin has already recovered to $2,291 – a little more than $200 per unit off what Bilzerian originally paid. And this cryptocurrency has always proven to be a swingy venture that, in the end, continues increasing in value.
The good news for “Blitz” is that he can afford the drop-off. According to CelebrityNetWorth.com, he’s worth $150 million. There’s no indication on how much of this he has wrapped up in Bitcoin.