Bitcoin billionaire expresses desire to invest in Kenyan tech companies

david nganga

May 30, 2018 2:19 PM

Mr Casares heads a firm that enables investors to spend their digital cash (bitcoins) via a debit card.

Mr Casares, a top Bitcoin startup entrepreneur, said he was keen on injecting cash for equity in viable technology firms in the country.

He urged Kenyan entrepreneurs to invest more in technology start-ups and practise patience to derive maximum benefits from their enterprises.

“My biggest regret is that I have sold start ups for billions of dollars. Yes, I got the money but no satisfaction because ultimate satisfaction comes from starting a company and building it to realise the vision for which it was started,” Mr Casares said during an interactive session at the Endeavor Kenya head office in Nairobi.

Investment

He joined board members to celebrate a Sh4.8 billion investment by Endeavor Catalyst, an offshoot of Endeavor Global, in local digital payments provider Cellulant.

Mr Casares is believed to hold as much as $10 billion (Sh1 trillion) of the cryptocurrency in underground vaults on five continents through Xapo. The California-based firm enables investors to spend their digital cash (bitcoins) via a debit card.

david nganga