PRESS RELEASE: How Crypto Waves are Affecting the Evolution of Venture Capitalism

Crypto Daily Roundup – Nov 27, 2018
November 27, 2018
PRESS RELEASE: Abu Dhabi Bank Settles $500 Million Bond on a Blockchain
November 27, 2018

Just like the cryptocurrency industry, the venture capital industry is also highly volatile . It is continuously evolving and has experienced extensive changes in the past decade due to the growth of the software and crypto sectors. The shift toward the IT industry is set to continue until saturation occurs or another industry that has high profitability potential catches the attention of the investors.

Many venture capitalists believe that cryptos will soon replace fiat currencies in the global financial systems. A major supporter of this notion is Tim Draper . Having spearheaded investments in Twitter, Tesla, and Skype, Draper knows his money well. He entered into the cryptocurrency sphere when he acquired 30,000 Bitcoins in 2014 from a government auction that had seized various assets from Silk Road.

Back in 2014, his investment was worth $20 million. Currently, it is worth much more than that despite the recent slide from the December 2017 peaks. Although the crypto market is highly volatile, it is believed to be the future in the financial ecosystem. Previous research shows that millennials would prefer having digital currency while the baby boomers still believe in fiat currency.

There is approximately $86 trillion in political currency denomination that is circulating around the world. Cryptocurrency makes up roughly $200 billion. Nonetheless, Draper thinks that this ratio will eventually shift the other way. Futurists like Thomas Frey also share similar opinions as he has been on record saying that cryptocurrencies will displace approximately 25% of all national currencies by 2030.

The reason why people believe the massive transition will occur is current government currencies are restricted by geographic borders. In an interview hosted by Real Vision Draper foresees a future set up firmly on the global, decentralized digital currencies, like Bitcoin, that is cheaper and seamless to operate and transact. He believes that around 2/3 of the value of the currency worldwide will maybe be in cryptocurrencies especially Bitcoin.

Many factors are put into context for the transition from fiat into digital currencies in today’s financial climate. A driving factor is the 2008 financial crisis that directly led to the development of decentralized currencies to avert a repetition of such a crisis in the future.

Draper thinks that it will not be long before the balance of cryptos to fiat currency shifts to 50-50 or even 70-30. Soon, it will get easier to invest and spend your crypto assets than it will to invest and spend fiat currencies including dollars.

Like what you’re reading? Subscribe to our top stories

Follow us on Facebook , Twitter and Telegram

The post How Crypto Waves are Affecting the Evolution of Venture Capitalism appeared first on – Daily Cryptocurrency News .

This is a syndicated post from

Comments are closed.