On CNBC’s “Worldwide Exchange” show,Kernsaidthatsturdycrypto coinsought tobe viewedjust like themajorfirms that came out of the dot-com bubble,utilisingthe instanceof a giant e-commercecompany named‘Amazon’:
“If youreturnback tothe netbubble,thatis whatlots ofpeoplein cryptoinvestigatefor direction, Amazon, arguablyone amongstthe bestfirmswithin thehistory of themankind, was once down over95%over2years.”
Amazon went public earlier in the month of May in the year 1997, with its shareworthof $18 USD pereach. ByDec.1998, the company’s shareworth surged above $300 USD per share,howeverrightafterthe dot-com bubble burst earlier in March 2000, the shareworth droppedto simplybelow$6 USD per share. Over time, Amazon managed to become the 2nd U.S. companyto succeed inamarket worthof around $1 trillion.
Kernerstatedthat the current volatility is nothing compared to whatold Bitcoin[BTC] investors have encountered, recallinga dayearlier in 2013whenthe complete crypto market fell by around 70% overnight. “This is whatinvesting your money into crypto’s is allabout,” Kerneradded,conjointlynoting that the impact of allgreattechnological changes is overestimatedwithin theshort term and underestimatedwithin thefuture in a long run.
The renowned venture capital firmadditionallystatedthat Bitcoin [BTC] is “the greatest storeof worthever created,” adding that the leading cryptocurrencycansurpass gold over time.onceasked whatmay bebehind the recent slump on the cryptocurrency market, Kerner argued that “crypto has beenconsiderably soweakas a result of[for] most of itthere’sno underlyingpriceoutside of confidence.”
Manybusinessexpertshave shared a positive outlookconcerningthe long runof crypto market. Bart Smith, digital asset head at U.S.-basedglobalcommerceand technology firmSusquehanna added thathe’sstill along-runBTC believer amidst the recent market downfall,outlining that cryptotrading is a very great idea an every idea is a long run game.
A partner at theVenture capitalfirm Blockchain Capital named ‘Spencer Bogart,’conjointlybelieves that crypto opportunitiesare“still gigantic” despitethisongoing market downfall. Spencerconjointlyexpressed his “mono-crypto” position, stating that Bitcoin [BTC] has the “largest established network effect” and is “more than5times larger thanthe cryptocurrency at second position.”