During the second consecutive day of the conference TNABC 2022, a panel of experts led by Harry Yeh, Maja Vujinovic, Stephen Ehrlich, Mate Tokay and moderated by Moe Levin came together to address the topic of cryptocurrency investing and how strategies can beat predictions in this market.
At the beginning of the panel, each one introduced themselves, in context, most of them have been in the crypto space since 2009. In this sense, they have seen the evolution of the ecosystem since then. All the panelists shared their point of view regarding the changes they have seen within the crypto space as far as investment is concerned. Likewise, they shared with the attendees some personal investment advice that they assure has worked for them.
Harry Yeh, for example, said that he started investing in the cryptocurrency market in 2013, at that time he entered with USD 500 and in that same year, he bought his first Bitcoin. He also said that during that time, he started mining Bitcoin. He said that before, in general, and from his point of view, the market used to focus more on quantitative and speculative high frequency trading. And, it wasn’t until he read Peter Thiel’s book that he noticed that founders found really good investments because they used to concentrate all their energy and capital in one focus.
In this sense, he considers that, as an entrepreneur, it is very difficult to do more than one thing at a time. He really believes in hyperfocus, and he said: «Focus my energy only on the ecosystem. For me that has worked very well because my background is software engineering, so I think the change, at least for investment, is to really focus on the things that matter to you.».
Ultimately, he said, what worked really well was finding passion for a particular approach. Applying all their energy, money and resources to make those projects work. He added that he is always looking for products that make life easier for the consumer. And, he added that the crypto market has a lot of it.
Another point that was discussed in the TNABC panel of experts is the importance of education within this ecosystem. They assure that with it, the approach that can be given to the projects makes the difference, because there is prior knowledge behind it that allows projecting the results on a table and being prepared for those possible scenarios. They highlighted that the crypto space has evolved a lot since its inception and there are more and more people who want to be “on board”. They added that it is necessary to know how to educate people, due to the complexity of understanding this world.
For his part, Stephen Ehrlich stressed that people like him are in this ecosystem to make the process easier for people who want to join. But for this, «you have to educate yourself, which is why I encourage everyone to go deeper into the industry and then invest», he expressed.
Maja Vujinovic expressed that she considers that for the next year, especially in the United States, the direction in which the regulation will go will definitely be seen, and she thinks that it will be favorable.
He believes that you will begin to see a large number of tools that will emerge within the ecosystem, which will even replace some of the financial services that entities such as Visa and Mastercard provide. «And, that’s where I think it’s really exciting.“, He said.
Maja expressed that the products in the crypto market that exist now are able to compete with Visa and Mastercard, since there are now many more people involved and have access to this.
«The tools that come can literally replace the services of the bank. Yesterday, Cuban was talking about NFTs as a gateway drug to Bitcoin and a gateway drug to cryptocurrencies in general. And that’s true».
Meanwhile, Harry thinks NFTs are definitely a big cash grab, so he says he’s warned people about it.
It coincides with what Mark Cuban said during his intervention on TNABC yesterday. I mean, it’s a gateway drug. Harry, think of it as community building. The NFTs, is the great beginning of the utility and therefore, more and more people join this art.
For its part, the panel of experts expressed on TNABC that they do not believe that the banks will disappear in the next five years, despite the fact that their end has been predicted for a long time.
Invest without being an accredited investor
One of the things that the panel of experts touched on during this edition was the opportunity offered by the cryptocurrency market to people who, without being accredited investors, can still invest in the ecosystem. They believe that this industry is making room for ordinary people so that they can invest and multiply their capital.
Cryptocurrencies, a kind of “fascinating” investment
Finally, Stephen Ehrlich opined on TNABC that he has a penchant for tokens as an investment bet. He mentioned that anyone who is new to this space and to investing wants to grow their capital very quickly.
«This is where a lot of people saw the opportunity in crypto, because they looked at the traditional investment space and said heck, I’m not going to wait eight years for this to mature.“, He said.
In short, the crypto ecosystem, in general, has become for him a kind of fascinating investment, risky, yes, but with results that personally keep him satisfied. This is how the rest of those who shared the stage with Ehrlich today at TNABC 2022 have also made it feel.