Photo by Kanchanara on Unsplash
The crypto market cap reached $1.13T on February 16. While still about 40% below its worth 3 months earlier, the current recovery lays new hope for investors like billionaire and venture capitalist Marc Andreessen, who believes 2023 could be the biggest year for crypto. Marc is a very experienced investor and the co-owner of the venture capital firm Andreessen Horowitz, (aka a16z) which oversees $28.8 billion in assets.
He was on The Lunar Society podcast recently, discussing issues around digital assets, capitalism, and education. Marc said he invests in crypto like other venture capital investments, with at least a five-year timeframe. “We treat these investments the same way we invest in venture capital equity. We buy and hold for as long as possible and focus on the underlying intrinsic value of the product or technology being developed.” He also defended NFTs against the common claim that they are valueless. He used “cultural importance” and “historical value” to explain how NFTs are similar to traditional art and photographs in value.