Kraken Co-CEO's Bitcoin Blunder
When it comes to investments, hindsight can be painfully clear—a lesson that Kraken co-CEO Arjun Sethi learned the hard way. In a recent interview at Fortune's Brainstorm Tech conference, Sethi shared a startling confession: he once discarded a desktop computer containing Bitcoin gifted to him in 2009, which would be worth an estimated $300 million to $400 million today.
The Story Behind the Loss
Sethi explained that one of his developers from his first company gave him the desktop with mined Bitcoin back in 2009, when Bitcoin's value was nearly zero. Today, with Bitcoin trading above $115,000, that early stash represents a massive missed opportunity. This incident highlights the unpredictable nature of emerging technologies and the risks of overlooking their potential.
Sethi's Role and Insights
Arjun Sethi is not just the co-CEO of Kraken but also the chairman and co-founder of Tribe Capital, known for his work in bridging operating leadership with venture investing in crypto and frontier technology. He stepped into the co-CEO role at Kraken in October 2024 after serving on the board since 2021, leading alongside David Ripley. Kraken, the crypto exchange he now heads, was last valued at $15 billion.
In the same interview, Sethi discussed the volatile crypto market, stating that while he believes crypto is not in a long-term bubble when viewed over 15 years, it frequently experiences short-term bubbles quarter by quarter. This nuanced perspective adds depth to the ongoing debate about market cycles in cryptocurrency.
A Common Tale of Regret
Sethi isn't alone in his remorse. James Howells, a UK man, claims his partner accidentally threw away a hard drive with 7,500 Bitcoin, now worth about $873 million. He has even offered to buy the landfill where he believes it's buried. As of mid-March 2024, there are approximately 1.75 million Bitcoin wallets that have been inactive for ten years or more, though it's unclear how many are truly lost versus dormant.
This phenomenon of lost investments extends beyond crypto. Founders of major companies like YouTube, Reddit, and Instagram reportedly missed out on billions by selling their stakes too early, underscoring a universal lesson in patience and foresight in investing.
The Fortune Global Forum is set to return on October 26–27, 2025, in Riyadh, bringing together CEOs and global leaders to discuss the future of business.
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