Co-CEO of Kraken, Arjun Sethi, has shared a story about how he fumbled between $300 and $400M in mined Bitcoin. BTC is flat over the past 24 hours, trading for $117,000 following yesterday’s FOMC meeting that saw the Fed cut interest rates by 25bps. Investors are now seeking the best new crypto to buy for Q4.
Sethi, speaking on a panel with Fortune at its recent Brainstorm Tech Conference, said, “One of my developers from my first company gave me a desktop with Bitcoin that he had mined. This was in 2009, and then I threw it away. I think it was worth maybe $300-$400 million today.”
“One of my developers from my first company gave me a desktop with Bitcoin that he had mined. This was in 2009, and then I threw it away. I think it was worth maybe $300-$400 million today,” @krakenfx co-CEO @arjunsethi said at Fortune #BrainstormTech. https://t.co/82Q2w9AyYL
— FORTUNE (@FortuneMagazine) September 17, 2025
Kraken CEO Says Crypto is in a Bubble After Throwing Away a Computer With $400M in Mined Bitcoin
Arjun Sethi is the co-CEO of Kraken and the chairman and co-founder of Tribe Capital, where he focuses on integrating operational leadership with venture investing in the fields of crypto and frontier technology. He became co-CEO of Kraken in October 2024, having served on the company’s board since 2021, and now leads the company alongside David Ripley.
Back when Bitcoin was first mined, its value was less than a penny; Sethi recalls being gifted some during that time. Today, Bitcoin is trading at over $117,000 and is poised for another all-time high, particularly following the recent cuts in the Federal Reserve’s interest rates. This environment is expected to attract more capital into risk-on assets like crypto.
In the same interview, Sethi also told Fortune he believes crypto is in the midst of a bubble. “Are we in a bubble or not? If I look at the overall slope over 15 years, I would say no,” said the Kraken CEO. “If you look at it quarter by quarter, the answer is yes, we get into those bubbles all the time.”
Billionaire Barry Silbert, founder of crypto firm Digital Currency Group, was on the same panel with Sethi and had a more optimistic outlook, while also trashing vaporware crypto projects. “There’s a whole lot of crap in crypto right now, which is overvalued. I think 99% of crypto is absolutely going to zero,” he said. “But that asset class, the crypto asset class, is absolutely not in a bubble right now.”
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Where is BTC Going Following the Fed’s 25bps Interest Rate Cut?
Yesterday’s announcement at the FOMC meeting that the Fed is cutting interest rates by 25bps was met with much less volatility than many expected. Bitcoin is up 0.2% from yesterday, trading just above $117,000, as it waits precariously for the dust to settle following the FOMC meeting before a clear direction can be confirmed.
On a higher timeframe, the general consensus seems to be that acceptance below $100K would be bad now that we’ve all grown accustomed to 6-figure BTC, and unless that happens, it makes sense to be bullish.
Regarding lower timeframes, Bitcoin has been maintaining its 4-hour trend throughout September, and if it continues to hold into the monthly close, an explosive breakout to new highs could be on the cards. A loss of the 4h trendline could see BTC drop to $114,000, representing a healthy support zone for the leading digital asset.
With rate cuts confirmed and Bitcoin holding steady above $115,000, traders are eagerly searching for the best new crypto to buy that could give those coveted 100x returns. Bitcoin Hyper (HYPER) could be the top bet, as Bitcoin’s first-ever Layer-2 protocol.
Is Bitcoin Hyper (HYPER) the Best New Crypto To Buy Heading Into Q4?
Altcoin szn is definitely on the cards for Q4 now that the market got its much-anticipated 25bps interest rate cut. Traders looking for the best new crypto to buy need look no further than Bitcoin Hyper (HYPER).
The rate cut means that there is an appetite for risk-on assets once more, and Bitcoin Hyper (HYPER) appears to be an instant beneficiary, with its funding increasing by more than $200,000 yesterday, surpassing the $16.5M mark.
The surge of Bitcoin’s popularity in 2025 has brought HYPER into the spotlight as a revolutionary Layer-2 protocol for Bitcoin. The HYPER team is committed to creating a comprehensive ecosystem of products for the Bitcoin mainnet, covering areas such as DeFi, GameFi, NFTs, and more.
HYPER effectively leverages the Solana Virtual Machine (SVM) for its Layer-2 protocol. By integrating its L2 infrastructure with Bitcoin, HYPER can benefit from Solana’s low fees and high speeds.
Bitcoin Hyper is developing its Layer-2 infrastructure using innovative roll-up technology. The team recently announced its plan to fully integrate the SVM as the execution layer for HYPER, alongside the use of rollups. This integration will enable fast transactions, low fees, and real-time execution, all while maintaining the reliability of Bitcoin’s core base layer.
Investors can also stake their HYPER tokens for a juicy 69% APY in rewards, offering a perfect opportunity for passive income while waiting for the Bitcoin Hyper ICO to conclude.
Fewer than 24 hours are remaining until the HYPER presale advances to its next price stage, meaning its current price of $0.012935 will soon be a thing of the past.
For the latest updates on all things HYPER, join the community on Telegram and X.
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