Julian Assange Reported 50,000% Gain On His Bitcoin Investment
At the start this week, WikiLeaks founder Julian Assange posted the following tweet to his personal Twitter account:
“My deepest thanks to the US government, Senator McCain and Senator Lieberman for pushing Visa, MasterCard, Paypal, AmEx, Moneybookers, et al, into erecting an illegal banking blockade against @WikiLeaks starting in 2010. It caused us to invest in Bitcoin — with > 50000% return.”
The Tweet was published alongside a screenshot of the CoinDesk bitcoin price chart, with the chart spanning the period from July 2001 to October 14, 2017 – a period across which the price of Bitcoin has risen from just $0.06 to current prices in and around $5,800, or a total percentage increase of more than 9 million points.
The situation that underlies the Tweet is relatively simple. Back at the turn of the decade, the US government (as well as a consortium of other policymaking entities) forced big name financial entities like Visa and MasterCard to block services for the WikiLeaks Foundation. This made it incredibly difficult for the latter to receive and store funding which, in turn, led the entity to search for alternative financing methods.
This search just so happened to coincide with the introduction of Bitcoin as an asset that was (relatively) freely tradeable. Sure, the infrastructure that was in place then was nothing like it is today and sure, storing and sending funds was a little more complicated back then, but the capability was there for anyone who knew what they were doing and, as it turned out, Bitcoin offered a solution to the WikiLeaks problem.
Fast forward seven years and the latter is sitting on a more than 50,000% return on the investment it made back at the start of this decade, having been forced into the making said investment by the very authorities that were trying to push it out of operation.