“BTC is the Amazon of the crypto industry” – Ari Paul

“BTC is the Amazon of the crypto industry” – Ari Paul

Ari Paul, founder of blockchain investment firm Blocktower Capital, compared the current bear market to the tech crash of 2000. Paul likened Bitcoin (BTC) to Amazon, one of the companies that survived the market crash.

Paul said in a tweet that while there are “simple” products in the crypto market, more improvements are needed to reach the mainstream. stressed. Paul also argues that global expansion is “5 years behind”, contrary to what many had hoped.

The administrator also highlighted the network outages in Solana (SOL). He argued that future upgrades with delays in the Ethereum (ETH) network and the security of Bitcoin were overlooked during bull runs, but that optimism won’t cut it, stating that he “feels very different” during the bear market.

Following these developments, Paul compared today’s crypto market to the Nasdaq market in 2000, saying that most cryptos are risky and still at an early stage. The Blocktower founder also believes that an asset like “Amazon” that will survive the crash could be Bitcoin.

In his tweet, Paul stated that Bitcoin has a “much better chance” than other cryptocurrencies, as it has no competitor, both in terms of product and technology:

He explained that while it may be bearish in the short term, crypto is actually “more bullish” than a year ago. Paul just warned people to be careful what they buy during the current market downturn.

The bear market has had a huge impact on the crypto industry, which is the livelihood of many workers. Leading crypto exchange Coinbase recently announced that it will be laying off 18 percent of its employees due to a decline in revenues and a bear market.

Related: Coinbase lays off 18 percent of its employees

Meanwhile, some community members shared their ideas and plans with investors on what to do to survive the “crypto winter”. From finding risk tolerances and dollar cost averages to spotting potential new projects, community members try to encourage investors to take action.

Soruce : https://tr.cointelegraph.com/news/bitcoin-is-the-amazon-of-crypto-and-everything-else-are-bets-says-blocktower-founder

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