The declining and unsure crypto markets can be viewed via two sets of eyes. The first set is the pessimistic type that believes this is the end of the world as we know it with relation to cryptocurrencies. The second is the set of eyes that have that sparkle of optimism for the prices of most digital assets are at their lowest. This means this is a prime time to buy in and to buy in big on Bitcoin (BTC), Ethereum (ETH), other prominent coins and the obscure tokens just reaching the crypto markets.
One such Venture Capital firm is doing just that: buying in big into cryptocurrencies. This firm is known as Andreesen Horowitz and it has already raised $300 Million for its first crypto-focused fund. The firm has also brought in its first female general partner who is a former US Department of Justice prosecutor. Her name is Katie Haun and she will be leading the new fund.
Ms. Haun is quoted as saying:
“We want to see crypto move on beyond speculation phase and see it solve eventually billions of real-world problems. We may be investing in things that haven’t been invented yet.”
Ms. Haun helped launch the Justice Department’s first government task force for Crypto. She also worked on the high profile crypto case known as the Silk Road. She is also on the board of Directors of Coinbase and has taught Stanford’s Law School’s first-ever course on digital currencies and cybercrime.
Chris Dixon, general partner at Andreessen Horowitz, was optimistic about the cryptocurrency industry. He stated that the firm was taking a long-term and patient approach towards the industry. Mr. Dixon told CNBC that:
“We’ve experienced ups and downs in the cryptocurrency market, and expect there will be many more. There’s potential in the technology, and some of the downturns can be the best investments.”
Via this statement, Mr. Dixon showed that the firm was very bullish about cryptocurrencies in the long term. He added that:
“There are wild fluctuations in the price, and we see that as an opportunity. We’ve been unphased and investing consistently over time.”
Dixon also compared the current crypto atmosphere to that during the smartphone boom of 2009 and 2010. During that period of time, smartphones and their corresponding Apps ‘ruled’ technology. He was also quick to point out that the crypto industry is just getting started; that the industry is still young.
In summary, and as mentioned earlier, the current crypto market decline can be viewed through two sets of eyes. The first being the pessimistic type that believes it is all over. The second set is the optimistic pair of eyes as exemplified by the Andreessen Horowitz firm. We are truly at the beginning of something revolutionary.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
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