Phil Hellmuth Refused to Buy Bitcoin at $90 and It Cost Him $millions

2 years ago
Phil Hellmuth Refused to Buy Bitcoin at $90 and It Cost Him $millions
12 Jul

Phil Hellmuth has an incredible number of successes to his name both on and off the felt but apparently taking advice on when to buy Bitcoin wasn’t one of them!

The Poker Brat’s $millions have come from a hugely impressive poker career, combined with sponsorships, endorsements and clever investments, but this week he admitted to missing out on some massive opportunities.

“I’ve been following crypto since my Silicon Valley ‘masters of the universe’ crew told me to buy Bitcoin at $90,” Hellmuth told USPoker’s Sean Chaffin. He added: “Then, they pushed it again after it fell to $300. Unfortunately, I didn’t listen. They also told me to buy Apple, Tesla, and Amazon too – and I didn’t listen, oops.”

The most popular cryptocurrency hasn’t been seen at those prices for almost a decade, topping out (so far) at over $60,000 earlier this year until Tesla’s Elon Musk put a spanner in the works.

For Hellmuth, though, it is a new cryptocurrency that has caught his imagination - Bitcoin Latinum – described as “a next-generation Bitcoin hard-fork capable of massive transaction volume, digital asset management, cybersecurity, and transaction capacity.”

Being pushed as “the future of Bitcoin” Hellmuth says he signed a deal with Bitcoin Latinum “because I believe the company will make it easier for crypto to be used by everyone on an everyday basis.”

Launching this month at $20, the new cryptocoin interests Hellmuth for numerous reasons, not least that he’ll be able to buy his coffee without paying a huge fee!

The Poker Brat seems to understand the value of crypto and the blockchain technology underpinning it specifically for poker players, who he describes as “rebels in the best possible way” who “don’t mind a little risk.”

He told Chaffin:

“Decentralization is a cool concept, and there is an element of freedom associated with it,” though he added a caveat: “This is not investment advice, I’m not telling anyone to buy the coin but I’m looking forward to watching Bitcoin Latinum list on crypto exchanges all over the world soon.”

With a busy summer of poker ahead you’ll see plenty of Phil at the live and online tables and we’ll be bringing you all the best of the action here as well as off-the-table stories, so be sure to check in regularly.

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Andrew from Edinburgh, Scotland, is a professional journalist, international-titled chess master, and avid poker player.Read more


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