Co-founder Elevation Partners, early technology investor Roger McNamee (Roger McNamee) believes that 2018 will be decisive for bitcoin.
The first cryptocurrency may be, he said, just a hype, and can survive the collapse and become a legitimate asset.
"Bitcoin is still a very small market in the context of a larger financial world, but it had a colossal year. We created a speculative mania around him. If the mania lasts long enough, it becomes self-fulfilling, and even after the collapse that follows, it becomes a recognized industry, "an early investor in Facebook said.
But to win its legitimacy, bitcoin must last long enough, McNamy said. He compared the bitcoin to the dotcom bubble, which sent America's economy into a recession before it became a major industry.
2018 McNami considers important for bitcoin also because it is still a new asset for investors. Volatility in the coming year can clarify what place the cryptocurrency will take in the financial market in the future, said the co-founder of Elevation Partners.
"You will have these big fluctuations, and presumably down. And, you know, when they calm down, I think that we will understand a lot about the role of bitcoin in the long term, "he concluded.
Earlier, the chief economic advisor of Allianz SE Mohamed El-Erian (Mohamed El-Erian) said that now bitcoin is going through a "moment of truth".
