EasyBitcoin: Billionaire Stelios Haji-Ioannou takes on crypto giants
An orange revolution in the world of Bitcoin
The EasyJet founder is launching a low-cost trading platform that promises to shake up the cryptocurrency industry – a move he says has been spurred by Donald Trump’s re-election.
From his Mediterranean base in Monaco, Sir Stelios Haji-Ioannou – the billionaire who made air travel accessible in Europe – is preparing a new offensive. At 58, the entrepreneur is turning to cryptocurrencies with EasyBitcoin, a platform designed to slash the hefty commissions charged by industry heavyweights.
In an interview with Bloomberg from the Greek island of Spetses, the EasyJet founder laid out his thinking: “I’m only doing this because Trump’s second election made it completely mainstream,” he said with trademark candour. His gamble relies on a partnership with Uphold, a regulated platform with 10 million users.
The “easy” formula for trading
The approach mirrors the philosophy behind EasyJet’s success: simplicity, transparency and cut-price deals. “People are going to buy and sell Bitcoin anyway,” Haji-Ioannou argued. “So better to give them a platform where they can do it more fairly, more transparently and more cheaply.”
The reality is undeniable: the industry, dominated by giants such as Binance, has been slow to cut margins. “Competition will bring those prices down,” the entrepreneur predicted, convinced that high fees are the biggest barrier to mass adoption.
An expansive empire run from Monaco
EasyBitcoin is the latest addition to a far-reaching “easy” empire that already spans gyms, hotels, storage, coffee and even pet transport. From Monaco, where EasyGroup Ltd is headquartered, Haji-Ioannou continues to lead his ventures while fiercely defending his iconic orange brand in the courts.
Working around 60 hours a week, the businessman splits his time between EasyGroup, personal investments and philanthropy. In 2017, he promised to give away half his fortune through the Giving Pledge.
With the launch of EasyBitcoin this month, his industry-disrupting ambitions are clear. Unlike airlines or hotels, cryptocurrency trading comes with complex technical and regulatory hurdles. But three decades after revolutionising European air travel, the Monaco resident may be about to do the same in the digital currency space.