Altan Tutar: A Risk-On Crypto Enthusiast and Digital Innovator in Dubai
Altan Tutar, a 27-year-old Turkish national based in Dubai, exemplifies the spirit of modern investment with his strong focus on cryptocurrencies. Allocating nearly three-fourths of his portfolio to digital assets, Altan’s approach is distinctly risk-on, reflecting confidence in the transformative potential of crypto markets.
As the chief executive and co-founder of MoreMarkets, Altan is at the forefront of innovation in the crypto space. MoreMarkets serves as a marketplace enabling users to unlock the value of their idle cryptocurrency holdings, introducing yield strategies akin to savings accounts but tailored for digital currencies. This platform allows holders of Bitcoin, XRP, and stablecoins to deposit assets and earn returns, bridging traditional finance principles with cutting-edge blockchain technology.
Altan’s journey is marked by extensive international exposure and academic excellence. Leaving Turkey in 2016 under a scholarship, he pursued undergraduate studies in computer science and mathematics in the United States. Later, he advanced his education with a master’s degree in artificial intelligence from Imperial College London in 2020. His global experience spans living in the US, Singapore, the UK, South Africa, and now the UAE, where he has resided since April. Dubai Harbour is his current home base, chosen for its strategic location and vibrant environment conducive to his entrepreneurial activities.
Starting out professionally, Altan’s first role was as an analyst at Antler, a London-based early-stage venture capital firm, where he earned an annual salary of £40,000 (approximately $54,153). Despite opportunities for higher earnings within the crypto industry, he now draws an annual income between Dh400,000 ($108,917) to Dh600,000 from MoreMarkets, focusing on building and growing his startup rather than immediate financial gain.
Financial discipline is integral to Altan’s life. He saves 40% of his monthly income, predominantly investing in cryptocurrencies and startups rather than traditional stocks. About 75% of his investment portfolio is in cryptos, with a strong preference for stablecoins due to their yield-earning capacity, alongside holdings in Bitcoin and Ethereum. The remaining 25% is allocated to angel investments across 12 startups, consciously steering clear of the crowded AI sector.
When it comes to real estate, Altan has yet to make a purchase, though Dubai remains a potential investment location. He sees the emirate as an ideal base for his travel-intensive lifestyle but is waiting for the right moment to buy. Turkey remains an option, but economic instability there has made him cautious.
Remarkably, Altan carries no debt, thanks to scholarships that funded his education and familial support, allowing him financial freedom uncommon among many peers. His upbringing in Turkey during a period of economic growth instilled values of saving and strategic wealth building, influenced by his father’s disciplined approach. Conversely, his brother’s aggressive trading career offers a contrasting perspective. Altan finds himself balancing these philosophies, blending risk-taking with prudent saving.
His major monthly expenses revolve around rent, travel, and food. He maintains a simple lifestyle, avoiding unnecessary shopping sprees and making the most of a home-based work setup. Preparedness is key for Altan; he maintains an emergency fund that can cover expenses for more than a year, underpinning his financial security.
On the topic of retirement, Altan is unconventional. He does not plan to retire but participates in workplace savings schemes to some extent. Previously, he opted out of a UK retirement plan to invest more aggressively in crypto, viewing the digital currency market as undervalued and full of opportunity. While his current risk appetite is high, he expects this to moderate as he gets older.
Altan’s disposable income is often spent on electronics, a passion originating from earlier gaming interests. His home reflects this enthusiasm, filled with multiple screens and gadgets, alongside occasional spending on clothing and gifts for family and friends.
Despite his confident financial stance, Altan harbors concerns about inflation, especially having witnessed significant devaluation of the Turkish lira over recent years. To mitigate this, he invests in Bitcoin and plans to diversify into gold, leveraging Dubai’s financial infrastructure to hedge against currency depreciation.
His overarching financial goals are clear: to ensure the success of MoreMarkets and achieve a level of financial independence where money worries no longer dominate his life. Financial freedom, to Altan, means the ability to follow his passions without monetary constraints.
Passive income generation is an ongoing process for Altan. While his crypto investments yield returns through staking and other mechanisms, they have yet to cover all living expenses fully. Nonetheless, this revenue stream forms an integral part of his financial strategy.
Altan Tutar’s story is one of a young, globally minded entrepreneur blending education, international experience, and a bold approach to the evolving crypto economy. His financial journey, marked by calculated risk-taking, saving discipline, and a clear vision for the future, offers valuable insights into managing wealth in the digital age.
