Bitcoin

“Cryptocurrencies and bitcoins is the future, as to when that transaction will be like an IP transaction. So I look at bitcoins and cryptocurrencies as the equivalent of IP IP protocol for the financial services transaction. So that's why I say it's very bright…”

“The future of blockchain is big. The future of Bitcoin is difficult, but I would separate it. So I think blockchain is really a game changer, and Bitcoin just a small part of the whole blockchain development.”

“So I'm hugely bullish on Bitcoin. I think, though, in the short term, there will be ups and downs and, you know, maybe a few more scandals. Long term, though, I think the blockchain or, you know, this ledger, public ledger technology will be fundamentally disr…”

“Whether it's Bitcoin or Stellar or whatever that, that, that will fundamentally change remittance around the world, and that's a half a trillion dollar industry or so. So that alone, it absolutely will solve.”

“I'm very long Bitcoin, so I have a bunch of Bitcoins, and not because I trade them or anything, it's just like, well, if the, look, the Bitcoin's irrelevant, right? What matters is the blockchain”

“I think Bitcoin has an equal chance of going to zero as it does to a thousand dollars again.”

“Fly, but it's going to take a lot longer than people think.”

“I love Bitcoin. I've spent a lot of time looking into it. You know, I'll take Ben Horowitz's side of the Felix Salmon bet. I think it'll fly long term.”

“Yes. I really like smart contracts. I think those based on the blockchain, or using the blockchain, I think that. That's really promising.”

“All of these things, Bitcoin, the blockchain, there are going to be new technologies applied to venture capital just the way file sharing was applied to the music industry, or Uber was applied to the taxi industry. I think venture capital is going to be change…”

“Yeah, I think the adoption, I thought it would be three years and that was two years ago. It might be another two years because all of these entrepreneurs who have worked very hard to create uses for Bitcoin, those uses are starting to be adopted.”

“People, people spend 10 to 20% of their money just Moving it across. And if you use Bitcoin, it's almost free.”

“And Bitcoin now is, you know, my Bitcoin is more secure than money at Wells Fargo or Goldman Sachs.”

“We have one company in this tribe that's called joy stream run by a solo founder who is trying to merge two technologies that have never been merged before, which is the peer to peer technology of BitTorrent with the peer to peer technology of Bitcoin. So basi…”

“Border to border transfer of money. It can be a third the cost and one fifth the time of sending money today with this new technology, which is really, really exciting.”

“And to me, they're completely integrated. Everyone's, they're very integrated and they're very similar. It's one can't exist without the other because the Bitcoin system is the incentivized system to help the ledger stay opera in operation because the ledger i…”

“I actually think regulation is good because it legitimizes it. Like, every time the US government makes a new rule about Bitcoin or the blockchain more people get interested in it rather than shy away from it because it feels like it's more and more endorsed b…”

“We're not an investor in Bitcoin and, you know, money works. It could be better. Yeah. We'll see. I mean, I, I'm not a in super opposition to a Bitcoin, but it didn't speak to us.”

“When we talk about disruption, I'm very skeptical that where we're going to be in 10 years is, you know, everything is initial coin offerings, and there's no VCs, and, you know, there's just sort of marketplaces like AngelList and Bitcoin, right? Like, I don't…”

“I'm not going to buy into a cryptocurrency that is just a somewhat slightly version or somewhat slightly tweaked version of Bitcoin. It has to be something that is truly novel and unique”

“Bitcoin is kind of one on the very outer edges of stuff That will create some really interesting value and simplification and efficiency”

“I don't think, like, Bitcoin or Ethereum is on the order of magnitude of that heart of a problem. Like, I think scaling YouTube was probably way harder, or scaling Twitter or something like that was probably way harder than the kind of things we need to do to …”

“The Bitcoin group, I would say they had a lot of people join early on that were kind of more ideologically motivated or perhaps pedantic... And the Ethereum community I would describe as more like technologists or people who just want to focus on the underlyin…”

“I'm confident it will be above.”

“I'm very engaged on Telegram, and there's a ton of very hard-to-find groups where the miners and the core blockchain developers and Bitcoin enthusiasts share ideas. I spent a lot of time in those Telegram groups.”

“Most miners, all they care about is making money. So, and that's fine, and that's how Bitcoin works. If all they care about making money, then they don't, they have no loyalty to any particular cryptocurrency.”

“Pretty much, Bitcoin is going to be the best store of value, and Litecoin being faster, more nimble, will be, and also have cheaper fees, will be better used for transactions as a payment method.”

“I guess I believe that cryptocurrency will take over fiat currency and become, like, the reserve currency, or Bitcoin could become, will become the reserve currency of the world, where everyone would Base everything on cryptocurrency. This is something that I …”

“So, for example, Litecoin was able to activate SegWit back in April, May of this year, whereas it took to August before Bitcoin activated SegWit.”

“Biggest misconception, I guess it would be that people would think, You have to buy one whole Bitcoin or one whole Litecoin. People then realize you can actually buy, like, a small portion of a Bitcoin. I guess that helped Litecoin in some sense, where people …”

“I think there will be a slight to quality. So people would Sell their tokens for Ether, and potentially sell their Ether for Bitcoin. So, it would crash a lot of the ICO tokens, a lot of the altcoins, but I think it would be good for the stronger currencies ou…”

“It has four times the block space. So right now it scales better than Bitcoin and transactions are faster.”

“I think that for Bitcoin to succeed, it has to be easy to use, right? You can't expect everyone to be able to store their own Bitcoins in their own computer or paper wallet and be able to secure it.”

“Bitcoin has not worked as a currency, but I believe it has worked and will continue to work as a store of value.”

“I actually think in 10 years, some of the craziness will level out. And maybe it's not on Bitcoin, but maybe it's on another token or so, that you will see fundraisers done differently in 10 years.”

“Now I got involved with cryptocurrencies and Bitcoin early, and then I thought I was Too early, and maybe it wasn't going to happen, and now I'm completely drinking the Kool-Aid, and I'm completely enthralled by just the potential of cryptocurrencies to get us…”

“So for example, if you look at Vitalik Buterin, the creator of Ethereum, he was 19 and a Russian Canadian who really didn't have ties to traditional venture networks. And Created what is pretty much inarguably the most important protocol since Bitcoin.”

“The first investment I made in my entire life was Bitcoin. I had never purchased a stock, a bond, I'd never made an angel investment or anything like that.”

“It will be above.”

“Yeah, I would say relative to Silicon Valley, I probably have a low risk Risk tolerance. I'm not entirely investing my life savings in Bitcoin. I'm not a rabid angel investor. I think compared to the rest of the world, I'm probably pretty high risk tolerance i…”

“I feel like I'm seeing too many people spend too much time on it right now, and I kind of see it as more of a speculative investment for most people at this point, not a guaranteed way to plan your retirement.”

“My best friend from high school and I were mining Bitcoin in 2011”

“I am what most people call a Bitcoin maximalist, so I think that Bitcoin, because it has such strong network effects already, it's definitely on Pace to be the leader.”

“Now, I will say also that on crypto, I think that there's a high probability that the company that will really succeed in crypto will be Facebook, and the reason is that for them to launch their own coin and for them to distribute that coin and allow developer…”

“I calculated how much better or worse an investment it would have been to just buy Bitcoin and buy the same amount of dollars worth of Bitcoin, and found that Bitcoin would have been a much better investment”

“When you have some coins, like let's say in Bitcoin, where it has a history of tainted transactions, meaning that it was used for maybe some illicit purposes, it might not get accepted on some exchanges, or certain merchants or people might not accept it, beca…”

“Like how it felt when we first invested in Bitcoin and Coinbase. And most people just had no idea what we're talking about.”

“What we've seen to some extent with Bitcoin, and it's too short a time series to be definitive about this, is that in some respects been an amplifier of overall risk appetite, certainly over the course of the last”

“At some point in a crypto network so far, at least what we've seen, maybe other than Bitcoin and Ethereum and a few others, is you see a plateau where once you have that asset reach a certain value, future participants don't perceive as much upside as the earl…”

“We did Bitcoin and Ethereum shortly after launching our first fund in 2019.”

“Everyone will do carbon accounting. Governments will do carbon accounting. They will score legislation for carbon. It's a new currency, a more important currency, I dare say, than Bitcoin is.”

“Could Bitcoin actually be a Reserve currency that central banks are purchasing that could be bigger than the yuan or the euro in central banks. I don't think that's crazy, actually.”

“No. Bitcoin is nonsense. It does not, there are so many ways to, you can choose to have a productive asset or a nonproductive asset. And then there are many assets that are naturally good hedges against inflation. The obvious of which is like Walmart and Amazo…”

“The largest assets by market cap, notably Bitcoin, Ethereum, Solana, et cetera are assets that don't really have an obvious DCF.”

“So we returned a 10 plus X life to date multiple on our Bitcoin and Ethereum investments on fund one. To our LPs in cash. Nobody even emailed us to thank us.”

“And so we traded out of Bitcoin and Ethereum via our second fund and for it, right before the crash for a great multiple and recycled those proceeds to fund our rippling investment.”

“I think Bitcoin is the future reserve currency of the world.”

“I remember in 2017, maybe, yeah, it was end of 20 16 when Jack wanted to put Bitcoin into Cash App. And he, ah, two engineers sat, ah, on the sixth floor of 14 55 market and wouldn't leave the office until they were able to build that product.”

“I think we're done with that or almost done with that. And I think that's why you see a lot more innovation coming back to Bitcoin as well, because people have come to realize that actually building real products that solve real people's problems is the way to…”

“It's a joke, but not without some element of truth to say that Europe's a museum, Japan's a nursing home, China's a jail, and Bitcoin's an experiment.”

“I mean, as a venture manager, you get paid two and 20, maybe more, maybe a little more, maybe a little less, but those are meaningful fees. The reason that you get those fees is because you can outperform you know, an index and you know, every private equity F…”

“I got an email saying that Coinbase updated terms of service. I clicked the link to try to update the service, log into Coinbase to do so, logged into Coinbase with my password, boom the hacker Got into my account and drained all my Bitcoin. So it wasn't a ton…”

“Like I think a strategy, you know, a dishonest, but probably successful strategy for one of these billion dollar fund managers would be to, you know, pitch to LPs that you're investing in, you know, bleeding edge crypto that's gonna, gonna push the space forwa…”

“I had all my money in Bitcoin on Coinbase, right? And that's how much I believed. Like I basically you know, emptied my bank account put it all in, in Bitcoin.”

“A lot of why people think she's good is because other people think she's good. And I think that can, that, that applies to cryptocurrency too. Why does everyone think Bitcoin is valuable? Because other people think it's valuable.”

“How we view talent is like, we'd rather give money to, you know, a founder that doesn't maybe look good on paper, doesn't have credentials, but has been studying crypto deeply since 2013 when they brought their first Bitcoin or something like that.”

“Bitcoin is a strictly financial construct. Bitcoin has no economic value. It has, it is no, it's not productive. Excuse me. Bitcoin is no productive value because it doesn't do anything. It's an asset. There are some interesting properties of that asset, but i…”

“So my theory was always from 2013 or 14 that adoption of Bitcoin would globally be inversely correlated to the rule of law in a specific market or specific country. And I think that's proven to be true.”

“The majority of the candidates out there are you know, pro Bitcoin, pro cryptocurrency.”

“First I'll point out that it's a lot of volatility up and to the right across the, you know, the history of the, you know, of Bitcoin. And it, it's not a lot of volatility and down and to the right as you know, most fiat currencies perform.”

“Over the coming set of elections, we will have a pro-Bitcoin, pro-cryptocurrency president, because crypto and Bitcoin are naturally going to grow.”

“We will not hold Bitcoin. It's not in our mandate, and we have no wish to have it. I don't think. And also, I'm not quite sure I fully understand All the implications of Bitcoin, but we, but it's not an alternative for us.”

“Airbnb, Pinterest Bitcoin.”

“I actually, the bigger mistake was I had a bunch of Bitcoin that I sold to pay for. I mean, it wasn't that bad. I sold it for like, you know, a wedding and an engagement ring and all that stuff.”

“And so I just think it's a very obvious hedge for America to hold Bitcoin.”

“While there are harms around AI, I think it has been a net positive for society. I can't say the same thing about Bitcoin.”

“Yes. A lot. I've been buying bitcoins for the last three years, like heavily.”

“I would say end of 25, so I'm approaching 200,000.”

“I'm gonna guess that it gets to a 130.”

“Not bearish on crypto, but, like, I think it reminds me a little bit of the tulip craze that you can't actually use crypto to go buy, like, when you could, if I could go buy a Tesla with crypto, it'd be amazing. If I could go to Amazon and use Bitcoin, it'd be…”

“We've looked at stuff around the like we looked at chain analysis years and years ago, probably should have done it. Like the picks and shovels type stuff. Look, should have done Coinbase, like, years and years ago. By the way, I should have bought Bitcoin, to…”

“I think Bitcoin will take a larger share as will the Euro, but it's going to be more of a mix.”

“I think a hundred percent of S&P companies are going to buy Bitcoin over the next 48 months. A hundred percent. I think it's going to become part of the standard treasury function in the CFO's office that has cash. It's going to be part of cash management and …”

“That's an instant pass on a founder and a pitch telling you when they got into Bitcoin. That, that's my flip side of too much feedback after zero. Like, if all they tell you, if in the 1:20 seconds they tell you about when they got into Bitcoin, tell them to s…”

“And that greed element of blockchain, which is exactly what the Bitcoin thing is all about, in my opinion, is about greed, bringing down the, in the whole blockchain thing. While Solana and Ethereum, they're looking like they have a long-term potential.”

“But a GPU, it has intrinsic value. Like, you can actually use that asset for something that's really, really valuable. And it doesn't matter where that GPU is. It could be in Iceland. It's still useful to anybody all over the world, as long as it's networked. …”