Australian Tech Billionaire: “My Bitcoin Bet is Paying Out Well”

Software giant Atlassian’s co-founder Mike Cannon-Brookes has hinted he has been a long-term holder of Bitcoin.

In a series of tweets Monday, the billionaire joint head of the Australian enterprise noted how $10,000 worth of BTC bought in 2010 was now worth around $146 mln.

Contrasted with gold or USD holdings, he suggests, Bitcoin is a clear winner.

“...My BTC bet is paying out well. Theory? ‘It will be worth a lot, or zero.’ Much like horse racing. Not like investing,” he wrote.

Cannon-Brookes’ “theory” is reminiscent of early Bitcoin days, when pioneering investors took on considerably higher risk when buying cryptocurrencies in bulk.

As local news source Sydney Morning Herald reports, it remains unknown what the entrepreneur’s holdings in Bitcoin are, how long he has held them and whether he is planning any uses for the funds other than storage as a personal investment.

In a further tweet, perhaps intended in an ironic light, Cannon-Brookes noted that an “ounce” of Bitcoin is worth more than an ounce of gold.

This news is not new, Cointelegraph having reported on the first time the Bitcoin gold barrier achieved parity earlier this year.

What an “ounce” of Bitcoin would consist of meanwhile is open to interpretation.