The Crypto Invest Summit in Los Angeles came to a conclusion today. Here is a quick recap of the second and final day of the conference. Stay tuned for more analyses and interviews the upcoming days.
Tim Draper, the billionaire investor, is known in the cryptocurrency for his brazen predictions and optimism for cryptocurrency. So it was not a surprise when Draper was very high on crypto during the conference:
· “With the advent of Bitcoin, you suddenly have a platform to change trillion dollar industries”
· “We’re on the cusp of something that will radically change the world”
· “1 Bitcoin is still 1 Bitcoin; all other currencies are fluctuate as they disappear from our Earth”
· With Bitcoin, “we have one of the greatest technologies that can change the world”.
· He expects crypto to radically change two areas: healthcare and government.
· He maintained his prediction that Bitcoin will reach $250,000 by 2022.
CNBC’s Ran NeuNer recorded a live show of Crypto Trader Show at the conference. He interviewed several notable individuals such as Tim Draper and Dan Morehead of Pantera Capital. But the most intriguing segment was with David Bleznak of Totle. Bleznak made the prediction based on intricate technical analysis that the US equity market will crash within the next month. The supposed crash, he says, will bring money swarming into Bitcoin and assets like Gold and Silver. With the global stock market currently plunging, perhaps Bleznak is close to the truth.
He also took the time to show the crowd eToro's hilarious new advertisement. If you are a fan of crypto and popular TV series Game of Thrones, it is worth a watch:
During the show NeuNer also shared a fascinating factoid that is not yet officially released to the public: Coinbase has already reached a valuation of $8 billion.
Panel Discussion: Cryto Investment Fund
Out of the many panel discussions on the day, this was the most exciting talk of the day. The panelists constantly disagreed on topics, starting from the outlook of the cryptocurrency market to the nature of tokens. The argument between Jeremy Gardner from Ausum Ventures and Moshe Joshua from Blackmoon about the utility of cryptocurrency tokens was particularly attention-grabbing. Joshua stated that he believes that cryptocurrency adds nothing to the already existent incentive systems such as airline miles or shopping rewards points. However, Gardner said that, while he believes “95 percent of the startups in blockchain space are going to disappear”, the use-cases for cryptocurrencies are robust due to their ability to bypass middlemen and censorship.