Billionaire Bill Pulte is not short of cash. However, that did not stop someone from donating $1000 worth of crypto to him. The person who donated the money believes that this will be good for them, here is why.
On December 12, Bill Pulte announced that he had bought 11 BTC. Two days later, he announced that he was going to give away cryptocurrency on Twitter. He added that if the crypto community was serious about the mass adoption of crypto, they needed to start giving out crypto coins on Twitter and other social platforms.
A short while later, the Nano twitter account decided that they would send $1000 worth of Nano coins to Bill Pulte. However, this was not a reciprocal action; Bill Pulte has yet to announce who will receive his satoshis.
The likely motive for this decision was to draw the billionaire’s attention to Nano and his 1.8 million followers. Nano is an altcoin that offers fee-less and instant transactions. The coin does not use crypto mining, which it believes is damaging the environment.
Pulte Has Yet to React
While Nano has sent the Nano coins, Pulte has not yet accepted them. However, with Bitcoin currently around $7,200, this might allow him to make some of the BTC back. Pulte is a billionaire and it is not likely that he will go out of his way to accept the tip by Nano.
This is because it might damage his standing in the crypto sector. Some might view him as shilling a relatively unknown cryptocoin. For instance, Bitcoin purists might not hold him to the high standards that they currently do. Nano even suggested that he should give away the funds. However, if he starts shilling Nano, some of his followers might shift from him to Nano. Given that the market cap of Nano is at $90 million, less than a tenth of what Pulte is worth, it is not likely that he is interested in hyping the project.
Is Pulte Right
In his tweet, Bill Pulte pointed to mass adoption as the best way to promote the crypto sector. Many others in the crypto sector have pointed out this issue over the years. However, it does not seem to have gained traction. Most people in the crypto sector have focused on buying low, hodling, and selling high.
This is not what the BTC whitepaper envisioned. In it, Satoshi Nakamoto envisioned a time when crypto would be used to offer financial freedom to the masses. However, it is worth noting that most people to whom crypto would offer the most benefit have never heard of crypto.
While various projects with noble intentions have been created, none of them has ever managed to gain widespread adoption in places where they could have the most impact. All those in the crypto sector who have the means and influence to do something about the issue should act upon in.
Image Source: Video Screenshot / Youtube
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.