Heard the one about the unorthodox founder who did the unusual (and perhaps the unthinkable)?
Heard about the fledgling Nigerian startup that pushed the bulk of a pre-seed raise into the mood swing-prone cryptocurrency market? Wait for it.
Last week, the entire cryptocurrency market basically crashed and hundreds of billions of dollars went poof within hours. And it’s all tied to one tweet from the eccentric Technoking of Tesla, Elon Musk. At the time of writing, the market continues to plummet.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Yes, that’s way too much power in the thumbs of one person but it’s just another indication of the high volatility and influenceability of crypto-assets.
So how did it turn out for that ballsy startup founder with a big appetite for crypto and risk? Well, it’s quite the story.