Silicon Valley Company Will Invest $300 Million in Crypto

Silicon Valley Venture Firm will Invest $300 Million in Crypto - CoinShot

Venture capital firm Andreesen Horowitz, which is located in the Silicon Valley, has announced plans to invest $300 million in cryptocurrency space through the “a16z crypto” fund. According to the firm, they have been investing in the crypto for more than 5 years and don’t plan to get rid of these promising investments. Despite the fact that Bitcoin genesis block was mined more than 9 years ago, they believe that this industry is still at an early stage.

Silicon Valley capital firm predicts that the next three whales of the technological trend will be the next-generation computing devices (for example, IoT, VR, autonomous vehicles), artificial intelligence and cryptocurrency. Venture Fund plans to cover a wide range of crypto spheres, to invest in startups and acquire popular cryptocurrencies such as Bitcoin and Ethereum.

Previously, Andreesen Horowitz has already invested in such promising projects as Coinbase, OpenBazaar and TrustToken.

Horowitz absolutely doesn’t frighten the volatility of the crypto market and the failure of the decline in prices, which so far prevails this year:

“We have an all-weather fund. We want to invest consistently over a long period of time, regardless of market conditions. If there is another “crypto winter”, we will continue to actively invest.”

Although to date the crypto market is very speculative, but the fund believes that this is in the early stages, over time, the potential and usefulness will be a key factor:

“We are focused on non-speculative use. We want services based on crypto protocols to be used by hundreds of millions and ultimately billions of people. Crypto tokens are a class of native assets of digital networks, but their value is due to basic practical examples of use.”

Not surprisingly, venture capital was interested in a crypto market, which demonstrated its huge potential for explosive growth earlier. For example, Coinbase, the leading American cryptocurrency broker, also established a blockchain and a cryptocurrency venture fund a few months ago.