Venture Capital Co-founder Claims Bitcoin is a Technological Transformation

With every new century, new technology is introduced that changes the world forever. Many people in the financial world seem to think that Bitcoin could also start such a revolution. Marc Andreessen, the co-founder of Andreessen Horowitz, seems to agree with the idea. He was speaking to the journalists at Bloomberg when he shared his opinions about Bitcoin and the cryptocurrency market in general.

Andreessen Horowitz is a venture capital firm that was established in 2009 in California. Praising Bitcoin, Marc Andreessen told the media that it is more than just a digital asset. He added that Bitcoin is also a digital asset that offers a dedicated network for developers and a diversification option for investors. He claimed that Bitcoin is a trustworthy network in the world of finance where there are many trustless options.

Marc Andreessen seems to be a big fan of blockchain technology. He was invited by Bloomberg to share some useful insight about cryptocurrencies investment options. He explained that the main reason Bitcoin is a revolutionary technology is that it offers a basic framework for the new technological development in the finance sector. He claimed with blockchain, it is possible to convert a trust-less industry of finance into a more trusty industry.

He pointed out that Satoshi Nakamoto has done a great job by keeping his identity hidden after all this time. According to him, for a person involved in the IT industry, it is not an easy task to maintain it for such a long time without having great skills. Furthermore, Andreessen pointed out that many people are only getting acquainted with Bitcoin, and once they understand the basic concepts, they made significant progress in little time.

Andreessen Horowitz is Planning to Launch Crypto Fund

Andreessen Horowitz is a Silicon Valley-based capital venture firm. Katie Huan and Chris Dixon from the firm recently announced to the media that they are trying to invest their capital reserves into the cryptocurrencies field. Huan and Dixon are executives for the virtual assets department at the aforementioned firm.

According to the announcement, an investment of $2.2 billion will be focused on blockchain and altcoin-based startups. The firm was also known as a16z, has also taken the step to hire more experienced personnel at their disposal. Former director of SEC Bill Hinman is among the latest recruits of the firm who are helping them built with the digital asset transformation.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

YouTube Crypto Influencers Fall Victim Of Scam

 In 2021, the crypto community witnessed a tremendous rise that also led to crypto fraudsters coming out in their numbers to prey on the users of the platform. Of late, several YouTubers that capitalize on crypto content creation reported that their accounts were hacked and noticed that fraudulent videos had been put up on their […]

Binance Boss Loses $14B Overnight In A Bloody Crypto Market Correction

Even though the crypto market has been declining since the beginning of the week, it culminated in a massive decline on January 21, with BTC now trading at a 6-month low of $35.35K. Crypto Price Correction And Dwindling Wealth For CZ As widely reported in various media, the price of crypto-related stocks has not been […]

Robinhood Trials A New Crypto Wallet Transfer Feature 

Popular trading platform, Robinhood, has launched the trial version of its crypto wallet feature that allows its users to perform crypto transactions outside the platform. Feature Only Available For Select Users However, this feature (WenWallets) is only available to 1,000 selected users. Part of the press release issued by Robinhood states that the firm intends […]

Crypto.Com Issues Official Statement Regarding Security Breach

On January 20, Crypto.com issued an official statement to share details of its losses during a recent breach of its security network. Nearly $34m Worth Of Digital Assets Were Stolen – Crypto.Com Part of the statement revealed that hackers stole “444.94 BTC, 4,836.27 ETH and about $66.3K worth of other digital assets” from its platform. […]

Intelligent Contracts Can Reshape Business 

Unlike in ancient times, when merchants relied on clay tablets to keep their agreements, today’s equivalents increasingly rely on blockchain contracts. They want to employ intelligent contracts, which are decentralized apps (DApps) stored on the blockchain as executable code and can be activated by any network user. Smart contracts, which Ethereum first introduced, currently enable […]