LinkedIn Co-Founder: Bitcoin is in My Five-Year Investment Plan

Click here to view original web page at feedproxy.google.com

reid hoffman

LinkedIn co-founder, early Facebook investor and Greylock Partners partner Reid Hoffman has declared his enthusiasm for bitcoin in a new interview with CNBC’s ‘Squawk Alley’.

The interview aimed to assess Hoffman’s current opinion of opportunities in the market given his experience and success in early social media.

Notably, despite the suggestions by show hosts that such industries as wearable technology, healthcare and home automation were areas that investors should be considering for investment over the next three-to-five years, Hoffman suggested he is increasingly focused on bitcoin.

Indicating that the ecosystem has piqued his interest in the last six to 12 months, Hoffman lauded bitcoin, saying:

“I think it’s an incredible system that’s created a ledger that is across – a distributed ledger across the whole world for it can be money but it can also be other things.”

Hoffman recently joined the board of directors at secure bitcoin wallet startup Xapo, an announcement that was made when the company reported $20m in new financing from firms including Greylock Parnters.

Bitcoin ownership

In the interview, Hoffman discussed his personal experience with bitcoin, confirming that he has purchased “a few bitcoins” to date in addition to his investment in Xapo.

Hoffman also dismissed suggestions that he may be worried about the price of bitcoin given the volatility that this indicator has experienced so far in 2014.

He added:

“I don’t check [the price] every day. It’s more a question of a three- to five-year horizon, not a daily horizon.”

Despite this, Hoffman cautioned investors, echoing the familiar refrain that investors shouldn’t put any money into bitcoin directly unless they are “willing to lose the money”.

Platform for innovation

Hoffman further stressed that bitcoin’s true innovation will be its platform, which he called its “most interesting layer”.

Citing smart contracts as one such example of the innovation bitcoin entrepreneurs have yet to fully unlock, Hoffman said:

“You can have bitcoin stand for something that isn’t just a bitcoin. [...] It could mean your car. So then your car could be accounted for on a general ledger that is then – you know, can let you do electronic contracts. you could put liens against it, moving it all into the electronic age.”

For more on bitcoin and its potential applications in the field of smart property, read our report here.


Click here to view full article
cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Should You Use MST Gift Cards at US Casinos?

US-facing online casinos don’t exactly feature a robust selection of deposit methods. Most gaming sites only offer a couple of… Read More

23 mins ago

Bitcoin {BTC} the reigning asset: Why Gold Barons and Value Investors constantly shun the king coin

Warren Buffett is a popular investor who was once one of the richest men in the world. He has claimed… Read More

23 mins ago

Bitcoin’s Bull Run Could Be Just Getting Started—Here’s Why

Bitcoin has soared so far this year, with the bitcoin price rising more than 200% since the beginning of the… Read More

23 mins ago

Late Hal Finney Predicted $10 Million Per BTC After Satoshi Release

Although some Bitcoin critics will spite anyone who believes that the cryptocurrency will be worth more than 1000× its current… Read More

6 hours ago

Bitcoin {BTC} adoption: Booking.com chief as well as U.K. Central Bank leader are optimistic about virtual currencies

Bitcoin is placed right at the top of the market, with the BTC dominance rate currently at 68.7%. The trading… Read More

6 hours ago

Top Pro Athletes Like Messi Would Make a Killing in Bitcoin Earnings

According to Messari research, Lionel Messi's take-home pay would be "12,700 $BTC" annually. Cristiano Ronaldo's would be 10,000 bitcoins. |… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More