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Crypto traders organise $1m poker tournament at BTC Miami

A group of high net-worth cryptocurrency investors are organising a huge $1 million poker tournament during April’s BTC Miami conference.

The idea was spawned between Twitter users HighStakesCap and Abu9ala7.

The latter of the pair, who is also known as Mohammad, was instrumental in organising a recent charity boxing fight between several cryptocurrency influencers at a conference in Dubai last month.

In a tweet, Mohammad wrote: “Hello friends I’m helping @HighStakesCap organise a high stakes poker tournament during BTC Miami. Maybe a few days before or after depending on the preference of the players. The buy-in will be $1 million. If you’re interested in participating please reach out to me or HSC.”

This is not the first time a group of crypto investors have battled it out over a game of ‘Texas hold’em’. Quantitative trading firm MNGR raised $100,000 for charity in an online event that featured the likes of Tom Dwan, Doug Polk and hedge fund manager Su Zhu.

However, if this goes ahead in Miami it will become one of the largest buy-in tournaments of all-time, with a $1 million entry game only going ahead through organisers like Triton and the World Series of Poker.

It once again reiterates the consistent crossovers between the poker and cryptocurrency industries, with success in both sectors being heavily based around risk taking, capital management and emotional control.

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Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.