Speaking to Forbes magazine, Skype co-founder Jaan Tallinn said that most of his fortune is in cryptocurrencies. The Estonian engineer also announced that he donated 50 BTC and 350 ETH to the Faculty AI company in the UK between 2018 and 2020.
Skype co-founder and engineer Jaan Tallinn explained to Forbes magazine that he kept the bulk of his personal wealth in cryptocurrencies. Tallinn also mentioned that he donated to one of the technology companies he supported, Faculty AI. Forbes said that this donation by Tallinn was quite different and listed several factors as justification. According to Forbes, the donation was made as a gift rather than an investment and will fund artificial intelligence programs. But the most interesting thing was that the donation was made in cryptocurrencies.
Estonian investor Tallinn donated 350 Ethereum and 50 Bitcoin to Faculty AI in January 2018. Considering the price of Ethereum at that time, the total value of the investment was 434 thousand dollars. Tallinn also donated 50 BTC worth about 360 thousand dollars in March 2020 and it was worth approximately 316 thousand dollars. Considering the current Ethereum and Bitcoin prices, it is seen that the donated ETH is approximately 160 thousand dollars, while Bitcoin is worth around 815 thousand dollars.
Why did he donate crypto money?
Tallinn stated that he wanted his donation to be like this because he kept a large part of his personal wealth in crypto coins and said that money could be cut as a result of converting crypto coins into cash. However, it was also reported that Faculty AI had some accounting problems as a result of cryptocurrency donations. In the news of Decrypt, it was stated that the company sold 144 thousand dollars worth of ETH, but held a large part of the crypto money donated by Tallinn.