"One of my developers from my first company gave me a desktop with Bitcoin that he had mined. This was in 2009, and then I threw it away. I think it was worth maybe $300-$400 million today,"
"Are we in a bubble or not? If I look at the overall slope over 15 years, I would say no,"
"If you look at it quarter by quarter, the answer is yes, we get into those bubbles all the time."
Arjun Sethi received a desktop in 2009 containing mined Bitcoin and later discarded it; those coins would be worth roughly $300–$400 million today. Sethi became Kraken co-CEO in October 2024 after serving on the board since 2021 and co-founded Tribe Capital, linking operating leadership with venture investing across crypto and frontier technology. He assesses crypto long-term as not a bubble but acknowledges frequent short-term bubbles when viewed quarter by quarter. Kraken was reportedly last valued at $15 billion. Significant quantities of Bitcoin wallets have been inactive for a decade, and other founders have similarly missed large gains.
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