In brief

  • Popular YouTuber Andrei Jikh has revealed his $100,000 investment in Bitcoin and Ethereum.
  • Instead of just holding, Jikh is using crypto lending platforms to earn interest on his coins.
  • The YouTuber has already more than doubled his initial investment amid the current bull run.

Andrei Jikh, host of a popular YouTube channel primarily focused on personal finance and investments, has bought $100,000 worth of Bitcoin (BTC) and Ethereum (ETH), he revealed to his 977,000 subscribers in a video published last Friday.

Jikh revealed that he currently has 7.5 BTC (around $145,000 today) and 120 ETH (about $72,000). His crypto cache was worth around $192,000 when he published the video. 

Both Bitcoin and Ethereum have gone up since Friday, so his stash has presumably increased to roughly $217,000. This means that Jikh has likely already earned over 100% in profit since his initial $100,000 investment was made (Jikh also invested an additional $10,000 after his initial buy-in). Some of this, however, has come from interest on his holdings.

The YouTuber explained that he used Winklevoss-backed crypto exchange Gemini to buy his coins because he has “been using them forever and because they keep 95% of their currencies in cold storage and they are regulated by the book.”

crypto exchange gemini supports 2FA hardware keys
Gemini is a New York-based crypto exchange. Image: Shutterstock.

But instead of just holding them, Jikh sends his coin to BlockFi, a crypto lending platform that allows its customers to earn up to 8.6% in annual percentage yields.

“I also use BlockFi because they are backed by some of the biggest players in the industry, like Winklevoss Capital and Coinbase,” Jikh noted.

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Among the events that prompted him to buy crypto, Jikh cited Decrypt’s article about MicroStrategy’s $425 million Bitcoin investment that helped pave the way for institutional adoption of crypto. The YouTuber also mentioned Grayscale's announcement that it has over $10 billion worth of BTC and crypto under its management.

Other positive news for Bitcoin adoption, according to Jikh, included Ricardo Salinas Pliego, Mexico’s second-richest man, investing 10% of his liquid portfolio into BTC, and endorsements of crypto from mainstream celebrities such as Maisie Williams.

It’s almost too much news to fit in a YouTube video.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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