VC investments in crypto have been surging … are they wrong, or are the skeptics wrong? … what crypto insider, Charlie Shrem, sees coming – and how to benefit
Consider how wealthy you’d be if you’d been an early investor in Google, YouTube, Apple, WhatsApp, PayPal, Instagram, LinkedIn, Oracle, and Zoom.
The venture capital firm, Sequoia, was an early investor in every single one of those companies.
As you can tell, Sequoia’s focus is primarily tech. And to say they’ve enjoyed a lot of tech winners is an understatement.
As of roughly one year ago, the companies it has backed represented a whopping 22% of the Nasdaq, or $1.4 trillion in combined market share.
Now, with that track record, it’s fair to assume that Sequioa has some highly-intelligent analysts and researchers, right?
Well, yesterday, we learned that the brain trust at Sequoia has just led a $450 million investment in an altcoin called Polygon.
From CNBC:
Polygon serves as a support layer to Ethereum, the platform behind the ether cryptocurrency, helping it process transactions at scale…
Over the years, the Ethereum blockchain has become congested as more and more users have piled in, resulting in slower transaction times and higher processing fees.
This has led to the creation of so-called “Layer 2” network like Polygon, which aim to take a load off the main blockchain.
This Sequoia investment sets up an either/or for crypto skeptics who believe the altcoin world is nothing…
