BTC is "greatest store of value ever created": CryptoOracle CEO is keeping the faith

22 Nov, 2018
by David Robb
News
BTC is greatest store of value ever created: CryptoOracle CEO is keeping the faith

CNBC recently interviewed a major crypto VC, who claimed that "BTC is the greatest store of value ever created". CryptoOracle CEO Lou Kerner is defiant in the face of the recent market crash.

Kerner referred to Amara's Law, which was proposed by a Stanford professor. He claimed that "the impact of all great technological change is overestimated in the short run and underestimated in the long run". This means that the current downturn in the market is not necessarily the permanent bursting of a bubble, but a step on the road to even greater influence and value.

The example of Amazon, "one of the greatest companies in the history of mankind" was used to illustrate just how wildly a project can fluctuate in value. The company's stock was at one time down 95 percent in value over two years. He also pointed to an overnight drop of 70 percent back in 2013.

According to Kerner, he understands why new investors want to leave crypto, but he insists that hodlers will eventually be rewarded. He believes that those waiting for crypto to become a digital payment system might be misguided, and its use as a store of value is what will see it eventually take over.

Read more: Pomp- Crash will kill off ICOs and funds: 'bear markets get rid of the tourists'

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