The head of the Bitcoin Foundation claims that he observes a situation in the cryptocurrency market similar to the “dot-com crisis” at the turn of the 2000s and therefore diversifies his portfolio in EOS and the NFT market.
Crypto Billionaire Brock Pierce in an interview with Fox Business declaredthat bitcoin will either fail or become very successful. Pierce warned investors to go all-in with bitcoin and called for risk diversification:
“The first cryptocurrency could drop to zero. This is a binary result. It will either reach $1 million per bitcoin or zero. It will be either one or the other, so you should not invest all your money in BTC.”
According to the head of the Bitcoin Foundation, now the “cryptocurrency landscape” reminds him of the bursting bubble in the high-tech market that the global economy faced 20 years ago and which led many Internet companies to bankruptcy.
“The situation reminds me a lot of 1999. The market is in this phase. And what came of it? After the collapse of the dot-coms, interesting companies such as eBay, Amazon and others formed, and even more businesses went bankrupt. I think that this can happen in the cryptocurrency market as well. Although this does not mean that digital assets are not real and will not play an important role in our collective future, ”said the businessman.
Pierce admitted that he spread the risks and invested a significant part of his capital in Ethereum’s competitor, the EOS blockchain:
“I am publicly known to have recently invested a nine-figure amount in EOS. I converted all my Block.one shares into it. In addition, I am very interested in what is happening in the market. I was involved in the purchase and launch of NFT.com.”
In 2021, a researcher at the University of Texas claimed that during the 2017-2018 EOS ICO project, 21 account holders on cryptocurrency exchanges artificially increased the price of EOS using fictitious transactions. In addition, there was a serious confrontation between the head of the project and investors in the project. So in November, the head of the EOS Foundation, Yves La Rose, declaring his rights to manage the blockchain, accused investors and the founder of Block.one of the failures of the project and said that EOS would use a new strategy for development.
Source: Bits
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