This week Bitcoin saw a huge drop and most of the other cryptocurrencies followed. So is it worth betting on Bitcoin? Bilal Zuberi is a partner at VC firm Lux Capital and he gives his take on investing in blockchain technology over cryptocurrency.
Zuberi argues that arguing in blockchain is a smarter move than going for crypto. The technology behind blockchain will continue to improve industries and become further embedded in banks, businesses, and every industry.
As for Bitcoin and cryptocurrencies, Zuberi compares this surge to the Dotcom bubble and the start of the Internet. When the Internet was first created there was a lot of hype and fusion of cash into startups and companies. Some bad companies got attention and investments, but there were also some winners who still exist today. Zuberi doesn't know which cryptocurrencies will make it, and therefore is more focused on blockchain.
FILE - CNN anchors Kaitlan Collins, from left, Don Lemon and Poppy Harlow appear at the 16th annual CNN Heroes All-Star Tribute on Dec. 11, 2022, in New York.
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Bruce Willis attends a movie premiere in New York on Friday, Oct. 11, 2019. Nearly a year after Bruce Willis’ family announced that he would step away from acting after being diagnosed with aphasia, his family says his “condition has progressed.” In a statement posted Thursday, the 67-year-old actor’s family said Willis has a more specific diagnosis of frontotemporal dementia. (Photo by Charles Sykes/Invision/AP, File)
