Chris Dixon, a general partner at investment giant Andreessen Horowitz (a16z), thinks the media and certain traditional investors are “clearly wrong” about the crypto sector.
In a recent interview on the Bankless podcast, Dixon argues that a lot of high-profile crypto critics must have “stopped doing research” after first hearing about crypto king Bitcoin (BTC) a few years ago.
The a16z general partner acknowledges that there are useless tokens in the crypto space but says that digital assets do have use cases.
“Many of these tokens are productive assets, Ethereum being the most obvious example. It literally generates cash flow. People pay to use a network and that cash flow indirectly goes to the token holders through their various mechanisms, and you can value it by traditional financial methods.
You can say ‘I think it’s stupid, I don’t like Ethereum.’ That’s your feeling, but it’s the same way you can say ‘I don’t like a company,’ or ‘I don’t like your house.’ Fine, but my house charges rent. It is a productive asset.”
Ethereum (ETH) is trading at $2,337 at time of writing. The second-ranked crypto asset by market cap is up nearly 4% in the past seven days.
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Source: https://dailyhodl.com/2024/01/31/a16z-general-partner-chris-dixon-says-media-so-clearly-wrong-about-crypto-heres-why/