Investors of Block.one are expecting returns of up to 6,567% in just three years and for billionaires such as Alan Howard, Louis Bacon and Peter Thiel this will be a big payday like none they have ever experienced.
The gain is close to $6.6 million from just over $100,000 stake w is a substantial return considering the crypto market underperformed in 2018.
Block.one to announce social media products in June
Tom Shaughnessy the founder of crypto research firm Delphi Digital said that Block.one is an odd one in the crypto industry. The start-up stood out because of the size of its balance sheet as well as its ambitions having generated close to $4 billion in one of the largest sale of crypto tokens. The primary objective of the company is to help in producing building blocks for a more secure internet version. By June this year the firm is planning to launch a social media product.
Besides the outward signs of growth since the sale of the EOS tokens in the course of a year and wrapped up last year analysts and investors have been pondering questions as to what the company’s 32 year old CEO Brendan Blumer is doing with all this money. In an email on March 19 the company disclosed what they are doing with this money indicating that they had cash and investments of close to $3 billion.
The company holds over 140,000 original Bitcoins
Approximately $2.2 billion of the company’s holdings is in fiat assess with majority invested in US government bonds. Although volatility has affected its cryptocurrency portfolio reducing to just around $500 million the company is nonetheless on of the largest holders of the original crytpocurrency with over 140,000 bitcoins. Most of the losses incurred have been covered by the recent rally of Bitcoin.
Block.one through partners such as Mike Novogratz has generated close to $174 million in venture capital investment. The firm indicate that the money generated from the sale of tokens will be channelled into developing an EOS platform.
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