Billionaire cryptocurrency investor Matthew Mellon has died in Mexico at the age of 54. The descendant of the Mellon Bank and Drexen Burnham Lambert investment bank founders, Mellon made $1 billion investing in Ripple (XRP).
The billionaire died suddenly in Cancun, Mexico, where he was supposed to attend a drug rehabilitation.
“Mellon made his fortune in cryptocurrency, turning a $2 million investment into $1 billion.” Mellon’s representative told the New York Post.
Billionaire invested the $2 million as an early believer, when most of people were still sceptical about the industry. This investment was later worth $1 billion.
“It’s $1 billion virtually for free. I actually have earned it because I was the only person who was willing to raise his hand. My family thought I was insane, when I knew it was a home run.” Mellon explained.
The estimated value of Matthew Mellon’s XRP holdings is $500 million at the moment.
According to different sources, Mellon had kept the private keys to his XRP locked in multiple locations across the United States. The keys are kept in cold storage and under various names.
At this moment it is assumed that all of his XRP holdings are inaccessible indefinitely, unless there are any further developments.