Meet Zach Resnick of Unbounded Capital at GBC Dubai| CG Weekly Livestream| Episode 18 |Season 2 Unbounded Capital co-founder Zach Resnick is a man who wears many hats. He is known to be a successful investor, entrepreneur, and innovator in the Bitcoin space. But before taking on these roles, he was an avid online poker player in his teenage years.
Zach’s first encounter with Bitcoin during his online poker days opened his eyes to opportunities he can do with Bitcoin. While playing, he noticed several poker sites that gave players an option to withdraw and deposit in Bitcoin. Zach was intrigued after seeing other players profit from their Bitcoin earnings.
Zach was again reminded of the digital currency in 2016 while living in Tel Aviv. He met Yuval Roth of Bits of Gold, a company that converts bitcoins to Shekels in Israel . The two chatted about Bitcoin for hours, which prompted Zach to explore the technology further.
As founder of Fly Flat , a discounted biz/first class flight concierge service, Zach decided to utilize his entrepreneurial background to form another business, this time involving Bitcoin. Zach, who is of Jewish descent, set out to partner up with some members of the Jewish community in Buenos Aires to establish Argentinian exchange accounts. Why Argentina ? Due to the country’s high inflation rate, Zach saw the price of Bitcoin routinely average to about 40% to 50% higher in Argentinian exchanges.
He also noticed the difficulty of taking pesos out of Argentina, and saw an opportunity to profit by catering to Bitcoin buyers in the country. He sold lower-priced Bitcoin, which he obtained from the United States or other exchanges, withdrew the pesos from Argentinian bank accounts, and waited several days before receiving a wire transfer from banks abroad. It was a cheaper alternative for Argentinians to acquire Bitcoin, and with a much quicker turnaround—a win-win situation for Zach and his clients.
Zach’s Bitcoin journey continued to unfold after moving to the San Francisco bay area, where he immersed himself in the Bitcoin and blockchain community. As he tells Kurt Wuckert Jr. on this episode of […]
Click here to view original web page at coingeek.com
