THELOGICALINDIAN - After assorted clandestine allotment circuit over bisected a decade the San Franciscoheadquartered Lyft the worlds additional better ridesharing startup took to the Nasdaq on Friday afterwards months of media advertising While this accident has little to do with crypto on the apparent some industry commentators affirmation that Lyfts antecedent success on American markets could augur able-bodied for Bitcoin BTC and added agenda assets
Silicon Valley’s Biggest Startups May Go Public, Could Crypto Rally?
The time has appear for some of Silicon Valley’s better names to go public, as firms attending to drift abroad from the adventure capital-only allotment model. Lyft, of course, is now alive on the Nasdaq. But, the busline startup, which has captivated one-third of the world’s ridesharing market, is reported to anon be abutting by companies like Uber ($72 billion), Pinterest ($12.3 billion), Postmates ($2 billion), Slack ($7 billion) and Airbnb ($31 billion) — whose articles you acceptable actively use.
This “IPO Frenzy,” as The Wall Street Journal dubs it, will acquiesce adventure basic firms to boring unload billions of dollars account of shares in the above companies, as continued as their alcove arrangement allows it. Much of the banknote (rumored to be in the dozens, if not hundreds of billions) garnered as a aftereffect of the auction of shares is acceptable to be reinvested in some of the Bay Area’s hottest names, Bitcoin-friendly firms included.
Barry Silbert, the arch of Digital Currency Group, a New York-headquartered cryptocurrency conglomerate, claims that this newfound accumulation of cash, captivated by investors like Andreessen Horowitz (a16z), Accel, the Founders Fund, and Sequoia (all of which accept serious stakes in the crypto industry already), will abundantly acquisition its way into the easily of cryptocurrency and blockchain names.
Billions of dollars in clandestine aggregation banal is acceptable aqueous via IPOs this year. The crypto asset chic is activity to be a huge beneficiary
— Barry Silbert (@barrysilbert) March 29, 2019
This isn’t aloof bottomless speculation.
a16z anchored Lyft shares for $4.25 apiece in a clandestine annular years ago. These aforementioned shares now advertise for $77 on the accessible market, applique the arresting adventure close a declared $1.8 billion. With Andreessen Horowitz additionally owning 5% of Pinterest, it should be able to banknote $500 actor out back the amusing media belvedere goes public. A ample allotment of this aqueous basic will acceptable be siphoned into the American fund’s crypto arm, which accustomed a $300 actor war chest for blockchain firms aftermost year.
https://twitter.com/shaig/status/1111315023849099265
Not So Fast, Claims Bitcoin Bull Arthur Hayes
While Silbert’s assumption makes sense, abnormally because the notable overlap of IPO whales and pro-crypto adventure capitalists, Arthur Hayes isn’t assertive that the accession of Silicon Valley startups on Wall Street will be a boon. In Hayes’ contempo profanity-ridden BitMEX Crypto Trader Digest, the industry cabal adamantly claimed that VC money is absurd to acquisition its way into the blockchain space.
Hayes animadversion that 2024’s Bitcoin assemblage (and added cryptocurrencies too) was finer predicated on “easy” or “free” money, which was created by the Federal Reserve’s third quantitative abatement (QE) session. On the added hand, the collapse in this beginning bazaar over 2024 went hand-in-hand with a aeon of quantitative tightening, which additionally created agitation in the banal markets. But interestingly, Hayes explains that the U.S. axial coffer “couldn’t abdomen a 20% alteration in the S&P 500,” and appropriately could activate addition annular of QE.
While this about-face of contest makes it complete like the prophesized fourth QE will addition cryptocurrencies yet again, the BitMEX arch controlling claims that the abutting arrival of “easy money will apparent itself in added college contour and added aqueous dogs**t afore crypto.” Hayes adds that this contemporary asset chic will be the aftermost to “feel the adulation (VCs cashing in on IPO deals),” accurately as a aftereffect of 2024’s downturn, which acceptable larboard a acerb aftertaste in the mouths of bigwig investors — acerb abundant to abort them from “FOMO[ing] aback into the markets.”
However, this all isn’t to say that cryptocurrencies cannot do able-bodied over 2024. In fact, Hayes explains that he still absolutely expects for Bitcoin to ability quintuple-digits by this year’s end, somehow. The above institutional player, who was airtight adamantine by 2024’s Great Recession, explains that by early-Q4 “green shoots will activate to appear,” giving Bitcoin a adventitious to assemblage aback to $10,000 and potentially beyond.
