CEO of 'Digital Currency Group': I Should Have Just Held Bitcoin

Barry Silbert, the CEO of Digital Currency Group, stated that he would have achieved higher investment returns if he had only held the Bitcoin he invested in for emerging cryptocurrency projects since 2012.

During his appearance on the "Journey Man" podcast with "Raoul Pal" on April 17, he explained that he discovered

BTCUSD

in 2011 and bought it at a price ranging from 7 to 8 dollars per coin. After the price of Bitcoin rose, Silbert began investing in emerging cryptocurrency companies.

He said:

"I was using Bitcoin to fund many of those investments, and at first glance, it seems you would make huge profits if you invested in companies like Coinbase. But in reality, if I had just held onto Bitcoin, I would have made greater profits than I did through those investments."