Founder and head of the investment fund Digital Currency Group and Grayscale Investments Barry Silbert (Barry Silbert) in an interview with CNBC , said that most cryptocurrency on bearish sentiment drop to zero.
“Almost all ICOs were just an attempt to attract money with the help of useless tokens at the base. The vast majority of them will disappear , ”he said.
At the same time, Silbert supported the position of the head of the US Securities and Exchange Commission (SEC), Jay Clayton, who believes that the majority of tokens were in fact unregistered – that is, illegal – securities.
At the same time, he is “more optimistic than ever” about the future of Bitcoin . As an early investor, he experienced no rise and fall of this cryptoactive asset and despite the “really disgusting technical analysis map” sees high interest in it among institutional investors. Like Mike Novogratz , Silberth bases his assumptions about the future of the PTS on his potential to replace gold to save savings.
“As I understand it, Bitcoin took the place of digital gold … The money that was invested in gold will not remain there,” he said.
First of all, in his opinion, this is due to the fact that the young generation, unlike parents, does not consider traditional gold a safe haven for investment. He is deeply convinced that many millennials will transfer the gold of their parents to bitcoins.
Silbert also believes that the “buy and save” strategy for Bitcoin was advantageous, however, he is ready to say when institutional investors' money is pulled into the crypto industry with less confidence. In this matter, he focuses on the creation of suitable infrastructure in 2019, but he warns: investors want to make sure that they do not “catch the falling knife,” and if market sentiment changes, then Bitcoin will surrender its positions.
Recall that in November last year, Silbert said that the ICO market is dead, but this will not be an obstacle to the inevitable growth of the cryptocurrency industry. Later he drew the attention of the crypto community to the fact that against the background of a decline in the market, venture capital firms terminate financing transactions.
Publication date 15.02.2019
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