Polychain Capital’s CEO Olaf Carlson Wee Turned $4 Million into $1 Billion in Crypto Space
CEO Olaf Carlson Wee’s Passion For Crypto Helped The Polychain Fund Hit $1 Billion.
CEO of Polychain, Olaf Carlson Wee has travelled a long way to get to where he currently is. His passion for cryptocurrencies and the technology behind them started as early as his college times and now the 28-year-old, has made Fortune’s list dubbed, “Ledger 40 Under 40”, a crypto-based list to congratulate all the prosperous individuals and firms.
In an interview with Vice journalists, Olaf Carlson Wee shared every inch of detail, starting from his first paper on Bitcoin, how he was the first to be hired at Coinbase, all the way up until his renowned, crypto fund, Polychain.
His first acquaintance to the crypto sphere seems to have occurred back in June 11, 2011, where he came across an article shared by Gawker. The entirety of the article focused on cryptocurrency and its technology. He also added that “it sounded really interesting” at the time, which triggered him to “start reading more about Bitcoin and just went down the veritable rabbit hole.”
After having graduated from college, he set his passion for bitcoin aside and pursued a career as a lumberjack. His hunger to study more on the blockchain technology made him halt his lumberjack position, ultimately leading him to Oakland.
Oakland was definitely a foundation for the current CEO, as he got the opportunity to serve as the Head of Risk and Product Manager for Coinbase. Both roles gave him the entire scope of running crypto funds and understanding the essentials. His hope for the crypto market was so strong that he even requested that his compensations were given in BTC.
As for his stance on the industry, it appears that from the very beginning, Carlson-Wee was skeptical about financial systems and was surprised by the “blind trust people have in financial systems.” He compared cryptocurrency’s transparency to the Federal Reserve’s system, which he sees as “a more complicated question actually”.
In discussing his journey during CNBC Africa’s Crypto Trader Show, Olaf Carlson Wee said that he developed the mindset that the “idea that the crypto space becomes multi-blockchain.” At that exact time, Bitcoin was dominating, as it took up “90 to 95% of the market share of all cryptocurrencies.”
When the Ethereum network was established, that’s when Carlson-Lee decided to dive right into altcoins. He trusted that it was the right time to enter the altcoins marketplace and to do so, he decided that a crypto investment fund was fit.
Hence, Wee created Polychain, which attracted investors of all levels. Polychain supposedly went from managing $4 million in assets to $1 billion. Although he’s come passed a wide range of hurdles to date, he devotes his current stance to all the time he spent
“talking to early-stage teams,” further admiring vehement “people who are dreaming of some new and wild technology and often they are very talented technical architects who want to make this a reality.”