On the Future of Crypto
When asked where he sees it going, Ohanian replied that he believes Bitcoin is here to stay: “Bitcoin has had quite a lot of battle testing. (It represents) the most robust, best proof of crypto being a possible store of value.” He did, however, mention other cryptocurrencies further down the ladder, as being less robust and more fraudulent.
When asked about the prediction he made in May – that Bitcoin would go to $20,000 by the end of 2018, and Ethereum would go $1500 – he said that he still stands by them, and his quote “People can call me out if I’m wrong” is still completely heartfelt. Ohanian went on to say that he wasn’t interested in investing in the short term; that Initialized Capital invested in Coinbase because he believes in the underlying technology – blockchain. He said that Initialized Capital are “looking for the people who are building the robust infrastructure that all these things are ultimately going to need to work”.
On the Future of Blockchain
There were two questions put to Ohanian on his views on blockchain: whether he sees crypto as a rival to fiat, and whether blockchain could end up dwarfing the worldwide web.
Firstly, Ohanian believes that the Internet itself is resilient enough in itself to survive in the face of some states and countries trying to stop the rise of crypto for fear that it might undermine fiat. However, his own opinion is that it can exist as a viable alternative to fiat rather than a replacement.
Secondly, he feels that blockchain can dwarf the worlwide web in that it represents a chance for a new Internet to be created, built upon blockchain infrastructure, to improve upon the existing web.
What Are Your Views?
Of course, everyone wants to know what’s going to happen with blockchain as its rise continues and investment opportunities increase in diversity. Your opportunity to hear the views of experts, to share your own opinions and to connect with exciting businesses and credible investors, is happening in London on November 21st. Visit the Blockchain Venture Summit website for more details on this exciting opportunity!
Image Credit: CNBC