by mk

This is a very big deal in the bitcoin space. Casares is one of the most active and bullish people in bitcoin. He has extensive fintech experience that precedes bitcoin, and has built one of the most successful bitcoin companies.

He is often quoted for saying things like this:

“I am the most bias Bitcoin person I can imagine -- the most pro-Bitcoin person I can imagine -- and even then, I always tell people they shouldn’t own an amount of bitcoin they cannot afford to lose because I think there is a nontrivial chance that goes to zero. And by nontrivial I say 20 percent, but again, I am very, very bias. If there is a 20 percent chance that you can lose that money, you should not own amount of that that you cannot afford to lose. At the same time, I think that there is a higher than 50 percent chance that a bitcoin is worth more than a million dollars. So, today it’s at 200, so it’s a 4000 times -- the possible upside. So, I think it makes sense to have a little bit of bitcoin -- say 1 percent of your savings in bitcoin. It makes a lot of sense, but no more because it’s a super risky investment that has incredible asymmetry.”