The 50 Most Interesting Companies In Bitcoin's History: 22/50
Xapo
The Idea: Ultra-secure Bitcoin custody, stored in underground vaults buried in the Swiss Alps. Casares built it because he couldn't find a safe way to store his own BTC. Friends and financial institutions soon asked if they could use his vault.
Early Traction: The Swiss mountain vault story was legendary. Casares personally evangelized Bitcoin to Silicon Valley's elite, reportedly convincing Bill Gates, Reid Hoffman, and others to buy Bitcoin.
Peak Stats: At one point, Xapo reportedly held more Bitcoin than any single entity other than Satoshi.
Status Today: Active. In 2019, Casares sold the custody business to Coinbase for $55M. Xapo pivoted to become Xapo Bank - a licensed bank in Gibraltar that pays interest on both cash and Bitcoin with a $150/year fee.
Why It Matters:
Casares was the most important evangelist for Bitcoin among Silicon Valley's power players. Xapo's custody business, acquired by Coinbase, became foundational infrastructure for institutional Bitcoin.