NEW YORK: Halle Tecco and Jeff Hammerbacher have a knack for spotting early technology trends, ranging from Facebook to digital health.
In 2013, they made one of their best bets yet by backing a then little-known cryptocurrency called bitcoin. According to CNBC, they made an angel investment in the Grayscale Bitcoin Investment Trust, a vehicle for accredited investors to invest in cryptocurrency.
They’ve donated the investment to cancer research, specifically to the MUSC Hollings Cancer Center in South Carolina.
“We pretty much forgot about it for a few years (the bitcoin investment) and then this year, it got interesting,” Halle Tecco explained.
She declined to say exactly how much the investment was worth, as the hospital will have to decide whether to convert the investment into bitcoin and ultimately into dollars, but the value is in the hundreds of thousands of dollars at today’s price.
Tecco said the couple initially invested in the virtual currency “mostly out of curiosity and to diversify our investments.”