Institutional investors prefer Bitcoin, is this the beginning of a digital currency investment boom?

Mike Cannon-Brookes has revealed his Bitcoin investment, saying on social media that his investment in the digital currency is going well.

The Sydney billionaire, who co-founded software company Atlassian, tweeted in late April that his bet on bitcoin was more like a horse race than an investment.

His tweet said:

Yes, my BTC investment is going well. The theory behind this? 'Its value is either infinite or zero'. It's like a race, not an investment.

According to the Twitter data forwarded by Cannon-Brookes, a bitcoin worth $10,000 in July 2010 would be worth nearly $150 million today.

A week ago, another billionaire, Mike Novogratz, revealed that 10% of his net worth is invested in the digital currency sector (invested in Bitcoin and Ethereum). Unlike Cannon-Brookes, Novogratz considers this an investment. Novogratz disclosed the amount of his investment in the digital currency sector and considered it his "best investment of his life", but Cannon-Brookes did not disclose his investment share.

Cannon-Brookes' business partner Scott Farquhar also made headlines, but for a different reason, when he bought one of Australia's most expensive properties - the $70 million Elaine Estate, The Sydney Morning Herald reported.

The report mentioned that Farquhar may have experienced a more resilient housing bubble than the Bitcoin bubble. However, if Cannon-Brookes had really spent $10,000 on Bitcoin in 2010, he could have bought two of Elaine's houses now.

Cannon-Brookes has diversified his investments in the cryptocurrency space through technology investment firm Blackbird Ventures and payments provider Tyro.

It is unknown whether he has invested in other digital currencies. However, considering the recent steady growth of ETH’s market value, now is the best time to invest in this cryptocurrency.

Currently, there are only two billionaires who have disclosed their digital currency investments, and there are likely to be more similar examples in the future.

Bitcoin price rises

With the price of Bitcoin exceeding 10,000, it seems that now is the time for those early investors to reap the rewards.

How long this bullish period will last remains to be seen, but for those who invested in Bitcoin as early as 2010, they have already made considerable profits, which are likely to continue to grow.