Legendary investor warns about the beginning of crypto-nuclear winter

The famous American venture capitalist Jim Breyer not cease to hopes for a business in the field of blockchain. At the event of the 2018 Global Tech Forum in Guangzhou, he said that «a lot interested» in this technology, but for cryptocurrency investors, he had a not-so-encouraging statement.

«Right now cryptocurrency is ready to move into a phase of nuclear winter,» said Breyer, which is the investor Circle, Ethereum, VeChain and High Fidelity.

As Fortune notes, “AI-winter” are common and are characterized by a periodic decline of interest in artificial intelligence technologies, there are a number of documented evidence. In the early 2000s against the background of the collapse of the dot-com bubble, venture capital investors shunned Internet companies that is not, however, stopped Breuer from investing in Facebook in 2005.

«These cycles occur every decade or so,» said Breyer, calling such seasonality is «inevitable.»

However, to believe in the blockchain Breuer makes not only his experience investing in technology companies in the past, but meeting with students, entrepreneurs, and developers.

«So many top scientists from the field of computing, and students completing a doctoral degree and have already received it, working on bloccano because they have tremendous fundamental interest in the blockchain, said Breyer. – I would not like to play against the best and the brightest minds in the world.»

In addition to the above projects firm Breyer Capital in August of this year, has invested in a startup Radar Relay involved in the development of a decentralized exchange tokens.



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