• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

One of the Biggest VC Firms Says Cryptocurrency Can be Worth Trillions of Dollars

Joseph Young by Joseph Young
3 years ago
in Bitcoin
Reading Time: 2min read
One of the Biggest VC Firms Says Cryptocurrency Can be Worth Trillions of Dollars
Advertisement

Union Square Ventures, a New York-based venture capital firm that oversees a billion dollars in capital, has revealed that it is investing in cryptocurrency and major digital assets like bitcoin as long-term investments.

Winning Blockchain Will be Worth Many Trillions

Founded and operated by Fred Wilson, a prominent venture capital investor known for his early investments in multi-billion dollar companies Twitter, Tumblr, Zynga, Etsy, and Coinbase, Union Square Ventures has quickly become a leading investment firm within the blockchain sector and technology industry within the past decade.

Within a decade, the company has built a valuable portfolio of startups valued at several billion dollars such as world’s largest online developer community Stackoverflow, Foursquare, audio sharing platform Soundcloud, the world’s biggest crowdfunding platform Kickstarter, and the global cryptocurrency market’s largest exchange and brokerage Coinbase.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

This week, in an interview with CNBC, Albert Wegner, a managing partner at Union Square Ventures, said that USV has allocated a significant portion of its capital into the cryptocurrency market as a long-term investment and it intends to continue investing in both emerging cryptocurrencies and blockchain startups.

But, Wenger said that the venture capital firm is not ready to create a major fund dedicated to the cryptocurrency market unlike Andreessen Horowitz, another leading VC firm that created a $300 million fund committed to the cryptocurrency sector.

“We’re not planning to do it,” said Wenger, referring to the creation of a separate and independent fund for the cryptocurrency sector. “We see a lot of upside to keeping it under the same roof.”

Wenger added that whichever cryptocurrency that survives and weathers large bubbles that will emerge in the future will be worth several trillions of dollars.

“Investors are rationally pouring a lot of money into this sector, because I think people are seeing the winning blockchain here might be worth a trillion, or a couple of trillion dollars. It’s not at all crazy to think that. Certainly, for any one particular project there’s an extremely high chance it won’t work. As a result, if it works, the rewards will be very high.”

Wenger is a Bitcoin Holder But Says Holding Only Bitcoin Isn’t Recommended

Wenger has been an early investor in bitcoin for several years and has extensively observed the cryptocurrency market over the past few years. He emphasized that investors should not only hold bitcoin and hope it to remain dominant, especially of investors have a significant share of their life savings in bitcoin.

“I don’t think you should be in the space and say ‘I’m going to only hold bitcoin. At the moment, this whole space is a high risk space and I don’t think anybody should be investing all of their life savings.”

The best investment strategy to utilize in a high volatile market that is still at its infancy is to diversify investments in various cryptocurrencies that have active developer communities and user activity, rather than allocating all of the life savings into a single digital asset.

Tags: bitcoinBitcoin Analysisbitcoin priceblockchaincryptocryptocurrencycryptocurrency investmentethereumUSV
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Joseph Young

Joseph Young

Joseph is a web developer and designer, writer and a passionate musician who loves to travel often. He's worked as a researcher for a number of venture capital firms and as a freelancer designer for resorts and corporations in Korea and the Philippines.

Related Posts

Ex WWE Wrestler Kane, Now Knox County Mayor, Looking Into Bitcoin and Litecoin

Ex WWE Wrestler Kane, Now Knox County Mayor, Looking Into Bitcoin and Litecoin

4 hours ago
Reports That Bitcoin Creator is an International Drug and Arms Dealer Resurface

Reports That Bitcoin Creator is an International Drug and Arms Dealer Resurface

1 day ago
bitcoin hashrate

Decline In Bitcoin Hashrate Causes Miners To Earn $16.7 million In 24 Hours

1 day ago
Bitcoin BTC BTCUSD

Why Bitcoin Could Be The Key For The Future Of Clean Energy

1 day ago
bitcoin dollar decay

“Exponential Decay” Of The Dollar To Benefit Bitcoin Long-Term

1 day ago
bitcoin crash 50 70

Despite Deep Plunge, Bitcoin Exchange Reserves Keep Dwindling

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

BitMinutes Announces Partnership with GoodDollar, Embracing Opportunity for Social Good

April 22, 2021

Hodlnaut Selects Fireblocks to Secure Assets With Next-Generation MPC Security

April 22, 2021

From Startup to Success Story — Morpheus.Network is Transforming Global Trade With Blockchain

April 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.