RATE Group | Ethereum co-founder Invested in Bitcoin at $1 in 2011, What’s Changed?
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Ethereum co-founder Invested in Bitcoin at $1 in 2011, What’s Changed?

16 Sep Ethereum co-founder Invested in Bitcoin at $1 in 2011, What’s Changed?

Posted at 19:23h in Ethereum News by

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Charles Hoskinson Ethereum Cardano

Charles Hoskinson, the co-founder of Ethereum and Cardano, entered the cryptocurrency sector when Bitcoin was valued at just over $1. Since then, the infrastructure supporting the market and blockchain systems has changed drastically, at an exponential rate.

Bitcoin price in 2011, chart provided by 99Bitcoins

In an interview with Mpho Dagada, Hoskinson, the CEO of IOHK, a technology company that leads the development of Cardano (ADA) and Ethereum Classic (ETC), said that he first engaged in the cryptocurrency sector by mining Bitcoin in 2011, when the dominant cryptocurrency was worth about $1.

In 2013, as the price of Bitcoin increased by 250-fold from $1 to $250, Hoskinson decided to be involved in the sector, with passion to lead major projects.

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Initially, Hoskinson revealed that he was approached a Chinese entrepreneur to create a stablecoin for $500,000 in funding. At the time, Tether (USDT) was not…

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