1-bad-----Spencer Bogart, a blockchain venture capitalist, a partner at Blockchain Capital, told CNBC that he’s “super-bullish on crypto right now” but also believes that the prices will go even lower. A year ago, crypto hedge funds were being formed left and right, and he believes that now, many of these funds are “hitting their one-year lock up.” This could mean people are looking to sell and get out of the space before the prices fall even lower, which would artificially bring them down anyway.
2--gud--Andreessen Horowitz has announced that the fund is designed to include the best features of traditional venture capital, updated to the modern crypto world. Named a16z crypto, the venture fund will invest in crypto companies and protocols and will be able to hold investments for 10+ years and in all conditions, regardless of coin prices, according to Chris Dixon, general partner at Andreessen Horowitz.
Although the Bitcoin whitepaper is now almost 10 years old, we believe we are still early in the crypto movement. The infrastructure needs to be improved and the applications are difficult for non-early adopters to use. Many crypto applications still get dismissed as toys. We believe this will change quickly. For one, crypto is purely a software movement and doesn’t depend on a hardware buildout, in contrast to, say, the internet, which required laying cables and building cell towers. Second, the space is developing extremely rapidly, partly because the code, data, and knowledge is largely open source, and partly because of the increasing inflow of talent," Dixon continues.
Meanwhile, the survey by ING might support his vision. Surveying nearly 15,000 people across 13 countries the bank said that fewer than one in 10 Europeans currently own cryptocurrency, but that 16% of respondents expect to own it in the future. Most surprisingly, 15% of them said they would be open to receiving their salary in cryptocurrency. More than a third of participants believe cryptocurrency is the future of spending online.
"Cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest," said Jessica Exton, a behavioural scientist at ING, Independent reported. If cryptocurrency stabilises there may be increased interest, she added.