Pantera Capital Posts 10,000% Gain Over 5 Years, Calls For Bitcoin To Head Higher Cardano (ADA) Founder Sheds Light on Ethereum Classic Bitcoin (BTC) Price Analysis: Heads Up for a Breakout! UPDATE: Bitcoin Bulls Push BTC Price Back Above $8200 Litecoin Price Analysis: LTC/USD Declines Along With Bitcoin To be frank, the cryptocurrency industry is a widely misunderstood place, with recent reports highlighting that a majority of the public does not understand the variety of facets in this nascent industry, including Bitcoin.
Jeffery Wernick, a prominent investor, recently appeared in a Business Insider interview to give an insider insight into what exactly people get wrong about Bitcoin, the foremost digital asset. But before we dive into what he said, something needs to be said about the sixty-two-year-old investment guru and his involvement in crypto.
For the uninitiated, Jeffery Wernick is a prominent anti-centralization investor, who has worked on Wall Street in the past. Since leaving a desk job at financial institutions, he has claimed early stakes in Uber and Airbnb, becoming rather successful and wealthy as a direct result of the growth seen in the value of these investments.
As was noted in a prior interview, Wernick began to acquire Bitcoin in 2009, when it was in the price range of just a few cents, and has since expanded his outlook onto altcoins and other blockchain-backed projects. The American investor currently sits on the advisory boards of Qtum and Datawallet, two notable cryptocurrency projects, with these roles going that he has a lot to offer in this growing space.
When queried about what the public get wrong about Bitcoin and cryptocurrencies, Wernick noted that many have begun to neglect the reason why Bitcoin was created, looking at the asset as a way to turn a profit instead of a decentralized “people’s money.” He stated: They’re just looking for an alternative model to make money and they don’t care about-they’re agnostic to the initial philosophical framework that drove people to adopt bitcoin to begin with and kept it alive from 2009 through 2013 or 2014, when all of a sudden, adoption started to grow. There was a small universe of people that actively worked to keep it alive by continuing to mine and continuing to buy and they were doing it because of the concept that they believed in, and that it’s a people’s money. Read more from ethereumworldnews.com…
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