THELOGICALINDIAN - Union Square Ventures a New Yorkbased adventure basic close that manages 1 billion in assets is planning on it affluent by advance in the blockchain and cryptocurrency industry which it angle as potentially actuality account a abundance dollars in the future
Union Square Ventures, called afterwards its area in New York City, has already invested in accepted San Francisco-based cryptocurrency barter Coinbase. However, it currently has no affairs to barrage a abstracted fund.
Albert Wenger, a managing accomplice at Union Square Ventures, told CNBC that his close is advance in the industry’s “foundational plumbing.” However, he additionally believes it’s not “crazy” to anticipate that, by advance in the appropriate project, investors can bang it rich. He explained:
He additionally noted:
Wenger’s close stands in absolute antagonism to Andreessen Horowitz’s Silicon Valley Venture Capital (VC) firm, which afresh appear the barrage of a $300 actor cryptocurrency fund. Dubbed “a16z crypto,” the armamentarium will focus on non-speculative use cases of blockchain technology.
When it comes to advance in the blockchain and cryptocurrency space, Wenger doesn’t accept Bitcoin maximalism is the way to go. Rather than putting all of one’s eggs in one basket, he suggests that alert about-face may crop the best results. He explained:
There’s additionally a lot of clutter in the cryptocurrency market, which will ultimately get filtered out. Wenger noted:
Do you accede that the acceptable blockchain may one day be account trillions of dollars? Which blockchain do you anticipate will ‘win?’ Let us apperceive in the comments below!
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