Kim talks about how he got into investing in ether, a cryptocurrency that is used to fund the Ethereum network
Simon Seojoon Kim shares his journey on how he started investing in ether the coin known for investing Ethereum network. At the beginning he was mocked by his friends as he invested a huge sum from his life savings into the new crypto. By the end of March 2017, he’d put in close to $400,000.
Even though Kim’s investment is hard to verify one thing is beyond dispute Ether has increased in comparison to the start of 2017. During last year it is more like 10-fold. Kim on the other hand has turned to become one of South Korea’s most famous blockchain advocates. After getting an increase from first blockchain advocates and after increasing first blockchain fund in December.
“He’s like yoda, the Jedi master of cryptocurrency,” said Sean Park, a senior partner and managing director at Boston Consulting Group Inc. based in Hong Kong who previously worked with Kim on a blockchain project. Kim is now a member of a burgeoning class of newly wealthy who made their money through virtual currencies. Bitcoin and Ether are two largest tokens which continue to increase. “The most successful investment is when you spot a fundamentally strong asset that’s either not getting much attention or being viewed negatively,” Kim said in an interview.
Kim is a software developer by trade who has built and sold two companies. One was in education technology, while the other was a dating app. He co-founded Hashed a program for blockchain projects. It takes stakes in companies and helps them to create, including arrangement of partnerships, giving financial advice and help with public relations. “Our investors want to maximize their profit,” Kim said. “But they also want to learn about the market through us.” “Given that the blockchain industry is new, unpredictability can be a short-term risk,” he said. “Still, I believe it’s a market that will ultimately be institutionalized and grow.”