Mining crypto currency has gone from being a side trade for nerds to being a industry with big names and operators involved.
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“I’m convinced that whatever money is in gold is not going to stay in gold. […] That gets handed down to millennials — I’m highly confident a lot of that will go into bitcoin.”
In February, Silbert stated in an interview with CNBC that he believes that the vast majority of tokens will go to zero in the following years but that Bitcoin will remain strong as a “digital gold” despite a slow technical progress. In June, Silbert commented that the so-called “crypto winter,” when prices across the market dropped sharply and investments dried up throughout 2018, may finally be ending and that the industry may be entering a “crypto spring.”
In July, Silbert responded to Treasury Secretary Steven Mnuchin’s press conference, which held a more negative stance on cryptocurrencies including Bitcoin, by saying that it was a “complete and total validation of Bitcoin.” In a DCG survey published in October, 23% of DCG’s portfolio companies stated that asset tokenization will be a leading use case, while 30% sided with payments.
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