Vignesh Sundaresan, who paid a record $69.3 million for Beeple's "Everydays: The First 5,000 Days" looks nothing like a wealthy collector at first glance.
Singapore: The blockchain entrepreneur who paid a record $69.3 million for a digital artwork looks, at first glance, nothing like a wealthy collector.
The 32-year-old is casually dressed in a t-shirt and chinos, lives in a regular Singapore apartment, and does not own any property or a car - with most of his investments in the virtual world. My prize possession would be my computer. And maybe my watch, Indian-born Vignesh Sundaresan, also known by his pseudonym MetaKovan, told AFP from his sparsely decorated flat.
His unpretentious demeanour offers no clue that he is a multimillionaire investor financing a fund focused on non-fungible tokens (NFTs), which use blockchain technology to turn anything from art to internet memes into virtual collector s items.
Sensors can turn your porch light on as night falls and off when the sun rises, without any intervention by you. Government relief programs can be automated in a similar way. Some Democratic lawmakers are pushing to add so-called automatic stabilizers to President Joe Biden’s stimulus proposals working their way through Congress. The idea is to enact spending measures that kick in as economic conditions deteriorate now or in future downturns and fade out as things improve.
Bitcoin investment gaining traction
By Lee Kyung-min
Bitcoin has quadrupled in value over the past year, increasingly emerging as a new vehicle of investment on the back of continued global uncertainty concerning the COVID-19 pandemic and volatile oil prices.
The uptrend is driven in part by institutional investors seeking to diversify their asset portfolios, a robust move sustained by individual retail investors who believe the digital currency would not be embraced by the large group of global market participants known to prioritize long-term stability over short-term profit unless they have a solid earnings prospect.
The year-long price spike in the once-frowned-upon method of investment is considered largely a vindication by many investors long criticized for engaging in digital transactions that some deem unsafe, akin to gambling and even morally questionable.
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