fbpx
QQQ
+ 7.05
312.29
+ 2.21%
DIA
+ 4.00
336.23
+ 1.18%
SPY
+ 6.32
403.85
+ 1.54%
TLT
+ 1.27
134.54
+ 0.94%
GLD
+ 1.54
169.61
+ 0.9%

Beeple Converted All Crypto Earnings From $69M NFT Sale To USD: 'I'm Not Remotely A Crypto Purist'

March 24, 2021 2:32 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Beeple Converted All Crypto Earnings From $69M NFT Sale To USD: 'I'm Not Remotely A Crypto Purist'

Mike Winkelmann, a graphic designer also known as “Beeple,” was quick to cash out on the proceeds from his record $69M NFT sale.

What Happened: After auctioneers fees and taxes, Beeple received $53 million worth of Ethereum (ETH), which he quickly converted to U.S dollars.

Beeple told The New Yorker that ETH’s volatility “spooked” him, which resulted in his decision to immediately convert all his cryptocurrency holdings.

“I’m not remotely a crypto-purist. I was making digital art long before any of this sh*t, and if all this f*cking NFT stuff went away tomorrow I would still be making digital art,” he said.

The artist also went on record to state that he believed that NFTs were “absolutely a bubble”.

Why It Matters: The hype around NFTs has taken off in recent months, and many long-term crypto proponents have raised concerns around the valuations of some NFT blockchains.


Related Articles

Galaxy Digital's Mike Novogratz Believes NFTs Will Stay 'For The Rest Of Our Lives'

Galaxy Digital CEO Mike Novogratz is bullish on NFTs and believes that these tokenized digital assets will be around for the foreseeable future. read more

When Lambo? Crypto Startup Tokenizes A Supercar

Supercar collector Mario Bauer is tokenizing his limited edition Lamborghini Aventador LP720/4 50th anniversary edition. read more

Bitcoin Struggling To Break Past $60,000 Again But Analyst Says Run Up To $75,000 Is In Sight

Bitcoin (BTC) may have seen the brakes hit on its upwards momentum as it struggles to cross again the psychological $60,000 mark, but continued upside may take it to $75,000 levels, according to one analyst.  read more

Scaramucci: Bitcoin Is The Apex Predator, But Ethereum Will Be The Actual Store Of Value

Anthony Scaramucci, known Bitcoin proponent heading global investment firm SkyBridge Capital, believes that the future of the digital asset in investment portfolios is inevitable. read more