by Rushali 
The concept of bitcoin was introduced for the welfare of human society and to take control from the government and the governing bodies and put that back in the retail people’s hands. But, with every passing year, the motive is getting faded and the crypto space is becoming more and more money-making machine instead of working in getting the fiat currency down.
It all started with a single cryptocurrency which was bitcoin, it was supposed to be a digital currency for peer-to-peer direct value transfer but, unfortunately, has become great speculation as mentioned by respected personalities and knowledgeable people of this space.
Then Ethereum happened which changed how everyone viewed bitcoin and introduced us to the power of blockchain technology which also was introduced to work in the welfare of the human society as a whole and I am not denying that it didn’t but, the primary motive was to replace fiat currency with cryptocurrency. There are more than 4700+ cryptocurrencies available right now. Is this what Satoshi Nakamoto wanted and none of which can be used against the fiat currencies of the country?
Some companies have started accepting cryptocurrency as a viable form of payment but, it is still in its infant stage and it is still up to them when they want to change their stance regarding this crypto space.
Looking at the recent example of Tesla, the company responsible for the sudden pump in bitcoins price movement took the crypto market by storm when the founder of Tesla, Elon musk announced that it will no longer accept bitcoin as a form of payment in tesla.
It has been ten years since the inception of the first cryptocurrency but there is not a single country that declared the use of bitcoin or for that matter any cryptocurrency as a viable form of payment. Which in turn is showing how we as a society got into the speculation mode and started profiting from it rather than working to make the cryptocurrency what it was intended to be started by Satoshi Nakamoto.
Today we will be taking a look at one of the personalities who are not only the first few bitcoin millionaires of this world but, also shares somewhat of the same views as mentioned here, lets dive deep into what made Jered Kenna announce on Twitter that he lost his love for the crypto industry.
We will also take a look at the current net worth of Kenna in the latter part of this article.
Introduction
Jerred Kenna is a former marine from the United States and is an early investor of bitcoin. Kenna also starred in one of the few movies based on bitcoin titled “The rise and rise of Bitcoin”.
He is presently the founder and CEO of 20 mission co-living, describing itself as the future of economic housing in urban areas. It is an innovative concept of co-living where people from every profession live and work. They all work together and live together building a startup-friendly space where everyone contributes to making it big…from designers to Entrepruners of Silicon valley.
Kenna is also the founder and CEO of 20 mission Cerveza which he founded after selling all of the bitcoin holdings in 2017. It is Columbia’s largest brewery presenting an amazing menu with some great-tasting liquors and beers.
Jared Kenna also was the founding CEO of the first US bitcoin exchange known as the Tradehill inc. the inspiration to create an exchange came when he was spending his time while working with Marines in south America when he experienced the first-hand challenges of the local people and the merchants.
Jered is also an investor and an entrepreneur who likes to invest in startups.
So, let us get to the point that why did he announce on Twitter that his love for the cryptocurrency industry is lost?
It all started with his bitcoin investments when it was at its early stages and was around for 20 cents but, the problem was that he got into the industry to not become a millionaire or billionaire being in mind, but with a vision to transform the world. According to him, everyone was talking about making money off bitcoin and not the real purpose and to an extent, we lost the substance in the urge of making huge profits by huge speculations about the crypto space.
In an interview, he once revealed that he now owns less than a single bitcoin which numbered in thousands when he was the CEO of Tradehill inc. Jared Kenna also stated that most of the people are now illusioned and are only making money instead of challenging the banking system and taking down the fiat currency which was the single most purpose of Satoshi Nakamoto.
According to some minds, they say that some of the early investors of bitcoin like Kenna had unrealistic expectations from the bitcoin.
In some unfortunate events, Jared Kenna accidentally deleted 800 bitcoins from his computer while in 2010 and also lost a huge some to a hack that happened in 2016. So, some say that his departure from the crypto space is not what he planned but eventually happened.
He also mentioned, “That hack took his entire life” which is very unfortunate to even hear.
Also Read : Eric Finman net worth
Jared Kenna Net Worth
Jered Kenna holds a huge net worth of 300 million US dollars and some of which is credited to the early investments in bitcoin and crypto space. This whole read not only gives a message about glamorising the crypto space and forgetting its real purpose but also gives a lesson about the seriousness of security needed to protect our crypto assets.
