“Selling Cryptocurrency Now is Like Selling Apple in 2001” — eToro CEO
More than 1,000 crypto startups have raised over $ 10 billion over the last two years. Yoni Assia, CEO of eToro, believes “95 percent of startups will not make it, but those who survive have the potential to become huge.”
Only a few crypto startups will succeed
Yoni Assia, the CEO of eToro — a social trading platform that supports a range of crypto currencies — had interview with Business Insider this week. Like many other experts, Assia is sure that only very few projects will succeed.
His statement reflects that of Joseph Lubin, co-founder of Ethereum, who this week compared the crypto-boom with the dot-com bubble of the late ’90s. At a press conference in Bublin Lubin said:
“If you look at the dot-com boom and bankruptcy, there were so many similar problems back then. So much money invested, lots of money lost, many failed projects.“
Although these statements sound very pessimistic, the two are by no means to be labeled as cryptosceptics . Because both Lubin and Assia believe that the projects that will not fail could bring about a revolution and make early investors rich.
The future of cryptocurrencies can not be predicted
The investment in cryptocurrencies is “as good as an investment in the Internet ten years ago,” Assia said, stressing that Blockchain could be as transformative as the Internet. “Tesla made 2,000%, Facebook made 1,000%, Google made 1,000%. That’s the same thing, but earlier in the cycle.“
Much of this success would have been unpredictable in 2000 — who could have predicted that a search engine would eventually discover self-driving cars and new areas of medicine? It’s just as difficult to predict the future of cryptocurrencies, says Assia, who has invested in Bitcoin and Ethereum.
“My long-term view is selling crypto now is like selling Apple in 2001,” Assia, who is invested in bitcoin and ethereum, said. “You do it if you have to do it, you don’t do it if you don’t have to do it. That’s my personal view, again, every person has to decide for themselves.”