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What 3 famous billionaires are saying about crypto right now 🔮
Hello everyone -
The month of May was tough.
Do Kwon, the founder of Terra, showed the world how to lose $40 billion in 10 days - and for every other investor, the month essentially looked like this:
Luckily for us, three of the most prominent voices in technology investing came out of the woods to give us their perspective on crypto today. They are:
Crypto billionaire Arthur Hayes
Billionaire founder of the first web browser Marc Andreessen
Venture capitalist & crypto investor Chris Dixon
Here’s what they said.
1/ Crypto markets have likely bottomed here. That’s because:
bitcoin and Ethereum have recently been less correlated to the overall stock market
the current crypto prices are close to the previous all-time-highs
the media has started trash-talking crypto once again.
Once you see articles in the media like “SEE, I TOLD YOU BITCOIN WAS A SCAM!” or “WHY THIS IS THE END OF CRYPTO” - you know the bottom is close.
2/ We see the same problems in crypto today that we saw in the early days of the Internet.
Before 1993, it was illegal to do business on the Internet at all. At the time, the US Congress believed this would only serve terrorists and people who wanted to launder money.
With time, that changed - luckily. But the criticism of crypto today is virtually the same as it was for the Internet back then.
3/ The early Internet was slow and hard to use for the average person.
Again, sounds familiar?
Ultimately, innovative billion-dollar companies unlocked the value of the first Internet and brought us online shopping, cloud, mobile, etc.
That’s what’s happening in crypto today.
4/ NFTs are a way to connect modern culture to the Internet.
Today, most art hangs on the walls of your rich uncle’s house. But NFTs allow artists to monetize their art online - digitally.
This has the potential to unlock more creativity than ever before in human history.
This all sounds like a big promise.
So if you’re thinking “hmmm yeaaah I don’t really buy it” - do yourself a favor and watch this super short video of Bill Gates getting mocked for this new thing called “the Internet.”
It’s one of my favorite videos in the world. And it helps reframe where crypto is today.
And if you enjoyed that, you’ll definitely enjoy this one too (the best part starts at 0:56)
In the clip, you hear the anchors ask, in 1995 - “what is the Internet anyway?”
That’s how most people feel about crypto today.
Yet look around you and see how prevalent the Internet is.
Crypto will have an even bigger impact.
It’s slow, clunky, difficult, and heavily criticized. But every single day, the smartest people in the world are working around the clock to bring it to the world.
And it’s coming. Fast.