The Bitcoin club now includes one more member from its list of celebrity holders. According to the CEO of BTC Inc, David Bailey, the world-famous cyclist Lance Armstrong is now a Bitcoin Hodler.
Following ‘Be Your Own Bank’ Strategy by Armstrong
Bailey took to the microblogging site to reveal how he set up Armstrong’s wallet with 10m sats while tagging the verified account of the athlete. As of the publication time, Armstrong is yet to comment on the BTC purchase.
— David Bailey (@DavidFBailey) October 13, 2020
A Twitter user pointed out the fact that the world-renowned cyclist now owns more Bitcoins than MicroStrategy, a company that invested $425 million BTC for its treasury. At the time, 10 million satoshis amount to approx. $1,150. Such a large sum of BTC investment only reveals Armstrong’s strong inclination towards the king coin.
The twitter post has highlighted that Lance Armstrong is more of a fan of self-custody where his BTC investments can be locked up in a wallet of his choice where he himself can control the funds. Such wallets allow its users’ funds to be not under compromise through any third-party platforms.
On its counterpart, MicroStrategy has left its BTC assets under the control of established cryptocurrency custodians.
From Past Controversies to Investment Mogul
Armstrong’s career came to a halt when the star cyclist used performance enhancement drugs, which he admitted in 2013 while being stripped of various Tour de France titles.
As with how it is with famous people where society doesn’t let them escape even their decade-old controversies. Some crypto community couldn’t resist bringing Armstrong’s past into it.
During an interview in 2018 with CNBC, Armstrong revealed that he had to pay settlement fees for up to $100 million, however, his investments in companies like Uber shoot up his portfolio for tens of millions of dollars. It led Armstrong to launch his own investment fund, Next Ventures, that invests in sports, fitness, wellness, and nutrition industries.
Armstrong’s recent BTC investment can perhaps inspire him to invest in blockchain startups or digital assets as well.