There is a huge diversity of opinions in the crypto industry. People, experts and investors often disagree about future prospects, market developments, regulations, etc. This is by no means a bad thing. Difference of opinion is essential for growth as the eToro CEO Yoni Assia shared his thoughts on selling cryptocurrencies.
The crypto boom is like the dotcom bubble but that's not a bad thing: 'Selling crypto now is like selling Apple in 2001' https://t.co/qtBP3veXlo via @BIUK_Finance— Yoni Assia (@yoniassia) June 16, 2018
A fact is that blockchain technology is here to stay and it is in one of its earliest stages of development. Many people think about cryptocurrency and forget that they are a byproduct of blockchain technology.
So, when you invest in a cryptocurrency project, you also invest in the blockchain they use. The benefits of blockchain technology can’t be denied and many tech entrepreneurs have stated numerous times that the real impact of blockchain technology will be felt in the next 8 to 10 years.
Yoni Assia has a good point
Despite of all naysayers, the industry keeps attracting new and new investors and big players. When even the big corporations invest in the industry, you know that the industry is one step closer to mainstream adoption. Mainstream adoption may come in different shapes and sizes and it can be entirely different than what many people speculate. Still, it is certain that the cryptocurrency industry will be around for at least 20-30years and it will be responsible for numerous technological advancements and innovations.
Assia shared his thoughts a while ago on a BussinessInsider interview. He claimed that the majority of cryptocurrency startups will end up failing, but the ones that succeed will become huge. Also, that blockchain technology is a bigger platform than the internet was back in 2001. The internet bubble was huge back in the year 2000. A lot of people invested their money in the Internet bubble when it emerged and the bubble was increasing rapidly for five years.
According to the eToro CEO we should very clearly learn from history
The eToro CEO mentioned that a lot of companies slowly gravitated their business models towards the Internet.
Some investors lost their money because they invested in companies that were part of the dotcom mania, without even researching what these companies were doing.
History does like to repeat itself and a similar thing happened for the last 2 years with the explosion of Initial Coin Offerings.
Many investors invested heavily in ICOs of new projects without clear regulations and some of those projects simply disappeared with the money.
When asked about selling cryptocurrencies, the eToro CEO stated:
“My long term views of selling cryptocurrencies now is like selling Apple stocks in 2001. You do it if you have to do it, but you do not do it if you don’t have to do it”
As history shows, after 2001, with the reveal of projects like MacOS, iPad and the iBook, the Apple stock blew up. Nowadays, Apple simply doesn’t need advertising because its one of the most recognizable brands on the planet.
The same thing will probably happen with cryptocurrencies and blockchain tech. Maybe not in the same fashion or with the same speed, but without a doubt with the same result.
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