Crypto millionaire, Jeffrey Berns spent $170 million to purchase a land in the Nevada desert, which he envisions to become a crypto utopia.
An enormous sized land in Nevada is reported to have been bought by a company, named Blockchains, LLC for $170 million this year.
The relatively unknown company is owned by a lawyer, who’s also a cryptocurrency millionaire, named Jeffrey Berns.
Berns has a fantastical vision to build a community with blockchain as its core. With blockchain’s capabilities, he envisions the community to be self-sufficient and self-governed, thus being independent from government and big companies.
While the idea is actually not new, the key differentiator to his project with the others is that Berns uses his own money to fund his vision.
He’s said to have spent $300 million on the land, offices, planning and 70 employees so far, with more to spend as the project moves forward.
The project has also been “accepted” by local officials, who are eager for economic development in the region. Berns was even invited to sit on the honorary panel in an event where Nevada’s governor read a proclamation that mention his company’s property as “Innovation Park” last month, along with Elon Musk from Tesla, whose factory is located nearby Berns’ property.
The 56-year-old just gave another update on the project this week, where he announced an MoU with one of the state’s energy companies, NV Energy to work together on projects that will utilize blockchain to run energy transactions.
Speaking to The New York Times, Joanna Rodriguez, who has been working with Berns for 8 years said, “He has these crazy ideas — but I know that every time he sets his mind to something he will get there.” It was her reason to move with her four children and husband from Los Angeles, where Berns’ law office located all the way to Nevada.
As a lawyer, Berns spent most of his professional career suing financial companies, during which he learned about Bitcoin. But, it was Ethereum that managed to win his heart.
He bought ETH during a big sale in 2015 and sold his possession last year when the price of cryptocurrency reached its all-time high, right before it crashed. His strategic move has somehow made him wealthy enough to fund his “crazy idea”.
On his “crazy idea”, Bern said, “I don’t know why. I just — something inside me tells me this is the answer, that if we can get enough people to trust the blockchain, we can begin to change all the systems we operate by.”
However, as much as he believes in it, he’s also aware that his vision is beyond what blockchain has accomplished thus far. “This will either be the biggest thing ever, or the most spectacular crash and burn in the history of mankind,” he added.
He closed his statement by saying, “I don’t know which one. I believe it’s the former, but either way it’s going to be one hell of a ride.”