Over the past few days, the price of Bitcoin rose over 10%. At the beginning of this third week in July of 2018, one Bitcoin was worth just over $6,000 USD. Now, as this week comes to a close, it is approaching $7,500.
Shervin Pishevar predicted Bitcoin’s fall and slow recovery months ago. The excitement over Bitcoin during the bull run at the end of 2017 was epic. A digital currency based on cryptography grew in favor. However, many people believed that it was in a bubble.
Scams and week ICO projects helped destabilize the cryptocurrency market. As the excitement faded so too did the total market cap and the price of Bitcoin. The difference between the bubble proclaimers and Shervin Pishevar was that he believed in the value of Bitcoin. Thinking rationally, there had to be a reason why, at one point, the cryptocurrency market was equivalent to more than 1% of the world’s GDP and approached $1 trillion.
Bitcoin is more mature now. It has moved from a novel idea to one looking to gain mass acceptance and practical applications. Developers are less concerned about exploring its applications than making blockchain a valuable part of human society. This is illustrated by the many charities turning to a cryptocurrency solution.
Applications for small business and charities have been at the center of Bitcoin’s development since its first transaction a decade ago. However, blockchain is gaining interest across all industries. From medical databases to the logistical applications for the transportation industry, blockchain is here to stay. Large corporations like Amazon, IBM, and Oracle are already implementing the underlying technology.
Shervin Pishevar believes in decentralization and small business. Blockchain is a means to provide a truly free digital currency. But, there is more at stake. The biggest players in the global economy are beginning to realize the power of blockchain technology. The ability to better manipulate data while it is cryptographically secure on a fundamental level is too great to ignore. Early adopters, like Shervin Pishevar, stand to gain the most benefit once this technology is fully implemented.
ie, Very few are great venture investors. And most great outlier funds have returns driven by 1-2 outlier partners. It’s not easy at all to get such returns. Here’s to more diversity and the discovery of new outliers. https://t.co/70ahvKkc0T
— Shervin Pishevar (@shervin) July 28, 2018