The cryptocurrency winter will pass unequivocally. This is the idea of Jim Breyer, a billionaire capitalist that is unperturbed by the bear market that has made bitcoin bleed heavily this whole year. According to Jim, these are just periodical adaptations of the market. In the long run, cryptocurrencies have too much to offer, to be destroyed in a slump.
Cryptocurrency Winter Is Coming, But Worry Not
While some experts claim that the cryptocurrency bubble has popped, others still think there are opportunities in the market. This is the case of Jim Breyer. Jim Breyer is one of the most impressive investors in the last two decades. One of his famous investments was the purchase of Facebook stocks just after the dot-com bubble pop. With this move, he obtained more than 100 times his original investment. He has also made several times 25 times the amount that he has invested in other companies.
For all this, his opinion is interesting when he touches the subject of cryptocurrencies and blockchain. Having skin in the game, Breyer thinks that this cryptocurrency winter will go much worst that it already has. this will scare off many investors and will let only the boldest ones in the game. He declared:
“we are close to a nuclear winter right now with cryptocurrency,”
However, he is confident that it will pass in time. To him, this is just seasonality and he backs up his claims on personal experiences. When he invested on Facebook, no one would think that that stock would rise so high. But he did and he reaped the benefits.
Jim Breyer Is A Noocrat
Besides this, Jim is a person that believes heavily in the talent of the people. He is a Noocrat, in the sense that he believes that the best and better educated should rule these industries. And that is why he is confident that cryptocurrencies will rise again to compete and to fulfill their function. He declared:
“So many of the very best computer scientists and deep learning PhD students and post-docs are working on blockchain because they have so much fundamental interest in what blockchain can mean,”
He also thinks that so many experts from the best universities in the world cannot be wrong. he has always put their money behind well educated and instructed projects. to conclude, he stated:
“You don’t want to bet against the best and brightest in the world.”