Bitcoin dropped 20% in late September, and one of the earliest Bitcoin millionaires came back to Twitter to talk about this. Jered Kenna is 37 years old, and he used to own thousands of BTCs, which he got for cents. Kenna also managed the initial crypto exchange in the US - TradeHill Inc.
In a post on his Twitter, he wrote that he lost the love for the industry. He explained this, saying that in early days everyone, who was involved in the sphere discussed the points that matter and very few of them were talking about earning money. Nowadays, Kenna feels that everything has changed and people are mostly focused on money-making.
As he says about himself, he came into the field for changing the world and now he is disillusioned because rather than modifying payment systems and confronting the banking sphere, crypto became all about gambling.
He also mentioned changes in the type of people involved in crypto he noticed: “I was in Miami a few days ago and I visited a crypto event, and it was full of gorgeous models searching for men. I was like, this has changed (remembering meetings full of tech geeks years ago)”.
The post on Twitter made everyone think that he is going out of the industry at all, so he wrote another one to explain the situation:
1/2— Jered Kenna (@JeredKenna) October 3, 2019
A lot of people think I'm anti crypto now. I'm not. Just not as enthusiastic to participate.
Look at tweets / articles / discussions and posts from today vs 5 or 8 years ago. The % talking about price vs % talking about usage and ability of the tech.
Talking about cryptocurrencies Kenna holds, he said that he keeps half a BTC, few thousand XRPs and a stash of a less popular coin.