Bitcoin billionaire spends millions on yacht: 'You never know when you are going to need an ark'

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Bitcoin billionaire and former child actor Brock Pierce has spent $8.3 million so far in the purchase and revamp of a vintage Portuguese yacht, with plans to turn the historic vessel into a luxury hotel and museum.

Pierce, who starred in "The Mighty Ducks" before making it big with cryptocurrency and becoming the Bitcoin Foundation chairman, told Page Six of the purchase, "You never know when you are going to need an ark."

Bitcoin billionaire and former child actor Brock Pierce has spent $8.3 million so far in the purchase and revamp of a vintage Portuguese yacht, with plans to turn the historic vessel into a luxury hotel and museum. (Photo by Nils Petter Nilsson/Ombre (Getty Images)

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The 1961 ocean liner, named the MV Funchal, served as the official presidential yacht in Portugal during the 1960s but had fallen into disrepair and was headed to the scrap yard when Pierce stepped in to buy it.

"I’m like, ‘Whoa whoa whoa, a 500-plus foot cruise ship that hasn’t been maintained in a long time because of everything going on?'" Pierce told Page Six. "This sounds like it could be difficult, but I would like to learn about maritime law, that’s interesting."

The investor and philanthropist said the vessel will be permanently stationed in Lisbon, and that he assured the Portuguese government that his mission is "to preserve and save" the ship.

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"As someone building things for our future, it is also important to protect our past," Pierce said, adding, "Preserving national treasures and relics, I do it around the world."

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