The crypto adoption curve has been rather steep, especially when it comes to traditional investors.
That being said, the success of many blockchain-related projects has begun shifting this trend as more new investors flood the crypto market.
One prominent angel investor still isn't convinced that the nascent market is mature enough to warrant him making any sound investments as he believes that 99% of crypto projects existing today are "Garbage."
Uber / Robinhood angel investor rails against crypto industry.
Despite being an early internet adopter and riding multiple trends that have shaped the traditional investment landscape, Calacanis remains highly skeptical of the crypto markets.
In the past, he has offered mixed outlooks on Bitcoin and the crypto industry as a whole, claiming in May of 2019 that BTC will "Likely be replaced by a new technology" due to it being heavily "Manipulated."
This weekend Calacanis said that he still believes "99% of crypto projects are garbage" and that most are being run by delusional and unqualified "Idiots."
He did note that 1% of crypto projects that don't fit into this category do have the chance to change the world.
"Historically, 99% of crypto projects are garbage run by unqualified idiots, delusional but below average founders or grifters the 1% that are not, could change the world. I'm waiting for that 1% to deliver their product so I can talk to their customers. You got customers?".
Max Keiser - an early Bitcoin investor and outspoken advocate of the benchmark digital asset - explained in reference to Calacanis' comments that reluctance from investors to enter the crypto market is contributing to "Pent-up buying" pressure.
Why one top investor's concerns with crypto could ultimately boost Bitcoin
Published on Jun 30, 2020
by Cryptoslate | Published on Coinage
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