#1484 Chad Cascarilla | Millionaire Buys Bitcoin At 3 Cents & Refuses To Sell!

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Feb 10, 2025

Chad Cascarilla, Co-founder and CEO of Paxos, shares his journey as an early Bitcoin investor and the evolution of the cryptocurrency market. He dives into the critical role of stablecoins in promoting financial inclusion, particularly for the unbanked. Discussions highlight the transformation from traditional finance to blockchain, including how tokenization can enhance liquidity and accessibility. Cascarilla also emphasizes the necessity for conventional institutions to innovate and integrate with digital finance to stay relevant.

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ANECDOTE

Chad's Early Bitcoin Investment

Chad Cascarilla, CEO of Paxos, bought Bitcoin at three cents in 2010 after profiting from the housing short trade.
Initially treating it like a penny stock, he mined and accumulated Bitcoin, becoming a significant portion of its early mining capacity.

INSIGHT

Bitcoin as a Solution

Chad saw Bitcoin's underlying blockchain as a solution to the 2008 financial crisis's lack of asset transparency and excessive leverage.
He viewed Bitcoin as a potential reserve asset and blockchain as the new financial system's foundation.

ANECDOTE

Bitcoin Obsession

Chad became obsessed with acquiring as much Bitcoin as possible due to its limited supply.
They mined using CPUs and GPUs, recognizing early on the scarcity and potential value of Bitcoin.

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Chad Cascarilla is the CEO & Co-Founder at Paxos, a regulated blockchain infrastructure provider and stablecoin issuer. Visit Paxos.com to learn more. Chad is also one of the earliest investors in bitcoin. In this conversation we talk about the early days of bitcoin, the rise of ethereum and other blockchains, the importance of stablecoins, tokenization, helping onboard enterprises, where we are going, and the mission of Paxis.

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