Bobby Lee has started a new startup called Ballet. This company focuses on building wallets. Lee previously founded BTCC, the very first Chinese bitcoin exchange.
Type of paper wallet
In a conversation with Yahoo Finance UK, Lee explains that Ballet’s new wallets are just as big as a normal credit card. He says that this should give normal, ordinary people access to cryptocurrency.
Not to hack
The first wallet from Ballet is called REAL, has no electronic parts and initially costs 29 dollars. This means that the wallet in which the private keys are stored cannot be hacked (according to Lee). The wallet only functions as a holder for the private key.
Lee:
It is just like cash. Once you have filled the wallet with bitcoin, litecoin or ethereum, this device has everything it needs to access the funds.
It can be used as a gift to give someone or you can just keep it in a safe and hide it somewhere at home. This is completely offline, there is no hacking risk.
Available from October
Before Lee dealt with wallets, he led BTCC, the first cryptocurrency exchange in China. The startup grew rapidly, but had to stop when the Chinese government banned crypto exchanges in 2017.
Lee sold BTCC early 2018 for an undisclosed amount. He said the company was sold for eight digits, and added that it was “a good amount that we were all very happy about.”
He then withdrew from the crypto world, but it soon started to itch again. Many people approached him with all kinds of questions about saving cryptocurrency. Lee saw a gap in the market and then founded Ballet.
Ballet is based in Las Vegas, the first few weeks the first wallets will be sent to beta testers. The product is expected to be available to the general public from October. A wallet ultimately costs 35 dollars, but is initially sold for 29 dollars.
$ 200,000 bitcoin rate is possible
Lee also discussed the bitcoin course. At the time he sold BTCC, bitcoin was still worth $ 20,000. The value has since been halved.
People get scared or just feel doom and gloom after the $ 20,000 crash. We are in one of the many, many cycles to come. Each cycle takes us to higher and higher heights. I am confident that bitcoin will be worth more than $ 20,000 in a very short time. The value will go to $ 50,000, $ 100,000 or even to $ 200,000.
He added: “When I say a short time, I don’t mean minutes or hours, I mean maybe months, if not a few years.”
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