Australian billionaire Alex Waislitz, touted as “Australia’s Warren Buffet”, has made tremendous profits over 400% by investing in cryptocurrency companies.
Waislitz was a pre-IPO investor at Banxa, an Australian crypto-payment firm where he made 400% of his investment through a pre-IPO (Initial Public Offering). The company reportedly processes over US$100 million in transactions every quarter.
On its debut, Banxa’s stocks went from $C1 to $C1.92, reaching over $C8 by mid-March. Waislitz’s appetite for cryptocurrencies is now bigger, as he recently doubled down on Apollo Capital, another Australian crypto firm.
Crypto as Potential Tool for Investors
Waislitz is the founder of Thorney Investment Group, which has invested in several unlisted companies through private sales along with its associates.
Thorney will invest in two private funds run by Apollo Management, which are Apollo Capital and its recently launched Opportunities Fund, a market-neutral fund that minimises volatility of the crypto market while capitalising on the inefficiencies of the crypto market.
According to Waislitz, the crypto market has proven to have a greater upside potential despite its high volatility. He added that more investors globally are considering adding crypto to their portfolios as they soar in popularity.
“Crypto assets are a foundational technology. They have the potential to disrupt a wide array of industries, likely starting with finance. We can already see the power Bitcoin brings, the ability for people to send value seamlessly around the world, almost instantly, without the need for an intermediary.”
— Alex Waislitz [The Australian]
eToro to go Public this Year
It seems Waislitz has also invested in the Israeli-based crypto exchange eToro, which was revealed this week it will go public via a merger, with special-purpose acquisitions company FinTech Acquisition Corp V —in a US$10.4 billion deal and list on the Nasdaq.
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