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IPFS News Link • Economy - International

He Turned $14,502 Into $800 Million: Now The World's Biggest Crypto Hedge Fund Is Hurting

•, By Tyler Durden

And yet, after turning $14,502 into a $150 million personal fortune by going all-in on cryptocurrencies just before bitcoin became a household name, earning investors in his Polychain Capital such as heavyweight VC Andreessen Horowitz a staggering 2,303% return last year, eventually growing his hedge fund to $800 million... and then losing some 40% of it all before the age of 30, perhaps he  should be.

But the bigger question is with millions riding cryptocurrencies from rag to riches and then back to rags again, is Olaf just a one hit wonder?

That's what the WSJ asks in its wide-ranging profile of the Silicon Valley (former?) star who wears neon tracksuits, has five earrings and routinely eats only a plate of refried beans, garlic and cheese for dinner. He is treated as an oracle by wannabe cryptocurrency moguls who mob him in public. He was treated similarly by his investors, until the losses started coming in.