Halle Tecco, Jeff Hammerbacher donate bitcoin gains to charity

Halle Tecco as well as Jeff Hammerbacher have a knack for spotting early technology trends, ranging coming from Facebook to digital health.

In 2013, they made one of their best bets yet by backing a then little-known cryptocurrency called bitcoin. Specifically, Tecco told CNBC they made an angel investment inside Grayscale Bitcoin Investment Trust, a vehicle for accredited investors to invest in cryptocurrency.

CNBC has learned that will they’ve donated the investment to cancer research, specifically to the MUSC Hollings Cancer Center in South Carolina.

Tecco confirmed to CNBC, “We pretty much forgot about This kind of for a few years (the bitcoin investment) as well as then This kind of year, This kind of got interesting,” she 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 as well as ultimately into dollars, although the value is usually inside hundreds of thousands of dollars at today’s cost.

Tecco said the couple initially invested inside virtual currency “mostly out of curiosity as well as to diversify our investments.”

Around the time they made their investment, Bitcoin was selling for around $800, Tecco said.

Bitcoin soared to more than $17,000 last week, after being worth less than $1,000 at the start of the year. This kind of was once the realm of technologists, like Tecco as well as Hammerbacher, although is usually at This kind of point gaining legitimacy on Wall Street.

Hammerbacher is usually an early Facebook data scientist who at This kind of point runs a lab at Mount Sinai, as well as his wife Tecco is usually the co-founder of digital health investment firm Rock Health. Together, they run an angel fund called Techammer.

The pair trust that will speaking publicly about their bitcoin philanthropy will inspire others to do the same.

“The investor community that will as benefited coming from the bitcoin craze should use This kind of foresight (as well as luck!) to help others,” she told CNBC via text. “We trust we are just the first.”

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