Bloomberg: Crypto Elite Abandon NFTs to Bid on 69 Million-Year-Old Dinosaur Fossils

According to Bloomberg, deep within a vault in Singapore known as the "Asian Fort Knox," lies a complete Triceratops skeleton that is 69 million years old—one of only 24 known in the world. A group of collectors owns it, including Yoann Turpin, co-founder of the crypto market maker Wintermute.

The trading executive and his co-investors paid about $5 million for the over five-meter-long fossil, which was transported from Wyoming to Singapore's Le Freeport earlier this year. All four owners have invested in cryptocurrency, including Chaw Wei Yang, who operates a platform focused on collectibles called Co-Museum.

This purchase reflects a shift in the tastes of the crypto elite. After experiencing the NFT craze of 2022, their interest in digital art has begun to wane. Nowadays, executives in the digital currency space are increasingly inclined to collect antiques, precious metals, and sculptures.