Marc Andreesen, Investor and Creator of Netscape, Praises Bitcoin in NYT Op-Ed

Jayanand Sagar | January 21, 2014 | 8:07 pm

Marc Andreesen, Investor and Creator of Netscape, Praises Bitcoin in NYT Op-Ed

Jayanand Sagar | January 21, 2014 | 8:07 pm

Marc Andreesen, co-founder of Silicon Valley venture capital firm Andreesen Horowitz, and creator of the first web browser (Netscape Navigator) praised bitcoin in a op-ed piece published Monday in the New York Times.

In that piece, titled Why Bitcoin Matters, Andreesen compares the coming of bitcoin to that of personal computers and the Internet, as it were. Inventions that have not only changed our personal lives, but the world.

An excerpt:

A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research and development by nearly anonymous researchers.

Political idealists project visions of liberation and revolution onto it; establishment elites heap contempt and scorn on it.

On the other hand, technologists – nerds – are transfixed by it. They see within it enormous potential and spend their nights and weekends tinkering with it.

Eventually mainstream products, companies and industries emerge to commercialize it; its effects become profound; and later, many people wonder why its powerful promise wasn’t more obvious from the start.

What technology am I talking about? Personal computers in 1975, the Internet in 1993, and – I believe – Bitcoin in 2014.

Andreesen Horowitz has invested millions in bitcoin-related start-ups, and continues to look into this booming industry for investment opportunities.

Andreesen’s op-ed is rather interesting. You can read it in full here.

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