Arrington is bullish on what Warren Buffet called a “read bubble.” Steve Jennings/Getty Images
Michael Arrington, the founder and a former editor of TechCrunch, purchased his first Bitcoin in July 2013 for $102.41. “From that point on, I was hooked. Or, I was at least a crypto enthusiast,” he wrote in a blog post today. Fast forward to four years and five months later, and Bitcoin flooded headlines this morning when it broke the $10,000 mark for the first time. The same day, Arrington announced that he is launching a $100 million cryptocurrency fund called Arrington XRP Capital. The fund will trade Ripple currency, or XRP. XRP is one of the cryptocurrencies that have been on the same wild run as Bitcoin in the past year. It has increased from $0.007 to $0.271 over the last year, Arrington wrote in the blog post. Ethereum, the second largest cryptocurrency next to Bitcoin, went from $20 in March to $391 in June. XRP currently has a market capitalization of about $27 billion. Read more here…

thumbnail courtesy of observer.com