Despite depressed crypto prices and recent company collapses, one of the key investors behind crypto hedge fund Pantera Capital believes there’s never been a better time to start a blockchain company.
As part of a Jan. 23 post about the year ahead, written by a number of executives at Pantera Capital, General Partner Paul Veradittakit explained that “on average,” people working in the crypto space are more educated and passionate about crypto than in previous cycles.
Strong start to the year! https://t.co/gFe5fUM0gT
— paul.nft (@veradittakit) January 23, 2023
Overall, he said, “we are seeing a higher percentage of startups coming to market with strong teams — entrepreneurs coming out of established crypto startups like Coinbase, larger tech companies like Facebook, Uber, and Square, and legacy financial institutions like J.P. Morgan and Goldman Sachs.”
The market is still very bearish, with some companies folding and prices recovering lost ground, but Veradittakit believes it’s still a worthwhile time to be in the space, citing the billions invested from venture…