Bitcoin

Uber angel investor and Twitter praises bitcoin and says crypto is one of history’s greatest inventions

Naval has invested in over 200 companies including Uber, FourSquare, Twitter, Wish.com, Stack Overflow, OpenDNS and Yammer. 10 startups have become unicorns.

Naval Ravikant, an angel investor from big companies like Uber and Twitter spoke recently in a podcast because he believes Bitcoin is important. The entrepreneur classified cryptomime as one of the most important inventions in human history and praised the maximalists of digital currency.

In 2020 Bitcoin experienced strong volatility, falling more than 40% at the beginning of the pandemic and now valuing to reach historical values. This volatility has pushed many people out of the market, but for Naval, current macroeconomic and geopolitical trends leave digital currency more important than ever.

“I think cryptomorphs are probably one of the greatest inventions in human history, and the reason they are interesting is because if you look at the technology industry, technology operates in unregulated spaces”.

Naval Ravikant is an entrepreneur and angel investor from several companies. He is co-founder, president and former CEO of AngelList, a fundraising platform for startups to raise money from angel investors, AngelList also controls the Product Hunt website.

Bitcoin’s Maximalist Entrepreneur Praises

For the angel investor, bitcoin maximalists are the essence of Crypto Comeback Pro, and are therefore responsible for the success of the asset, as well as providing value in the market.

A maximalist believes with unshakeable conviction that Bitcoin is the only crypto currency – indeed, currency – worth worrying about. Most maximalists also believe that altcoins (any cryptomime other than Bitcoin) are not only technically defective, but also morally questionable.

“The beauty of Bitcoin is that there are these obstinate maximalists, … they are in the very essence of what makes Bitcoin always negotiable, always valuable. There is always some guy … somewhere in the world, who will give you your home for Bitcoin”.

Naval Criticizes banking system and government

In the podcast, the investor also talked about what he thinks of the world banking system and governments, for him the American government has discovered that it can print money at will while the rest of the world suffers from the effect of inflation.

“Probably the scariest thing that happened in 2020, from a financial perspective, is that both the Republican Party and the Democrat discovered that, ‘Oh, in fact, we can print a lot, a lot of money. When we print a dollar, 70% of the cost of the inflationary attack effect is borne by the rest of the world. And then the US government discovered that”.

Bitcoin is a deflationary asset that is a protection against inflationary risks. For the angel investor, cryptomites can replace the current banking system and also the government.

“You have to understand that you are replacing the banking system, you are literally replacing the government, all the guns, and the police, who back up the banking system”.

The podcast can be heard below.