The world of cryptocurrencies has seen a resurgence in terms of both prices and interest from various players in the industry. The latest mainstream financial institution to jump on the cryptocurrency bandwagon is Andreessen Horowitz, with the decade-old company prioritizing cryptocurrencies within its fold. Margit Wennmachers, an operating partner at the firm, said:
“As a firm, we have this massive ambition to be the best investor period, and want the flexibility to invest in what we think is the best investment.”
The move is aimed to give the company more flexibility in the investments that it can take part in. Andreessen Horowitz claimed that the company is planning to invest as much $1 billion into the cryptocurrency industry, which will entail dealing with not just digital assets but also blockchain technology and distributed ledger technology. Andreesen had claimed earlier that the 21st century is the “era of disagreeables”, a statement that could be correlated to the company’s decision to venture into cryptocurrencies.
With the entry into the world of cryptocurrencies, all employees of Andreessen Horowitz will have to undergo background checks and register all their financial holding, crypto as well as fiat. The company, by becoming a registered investment advisor, will possess the complete freedom to delimit its investment rate as well as have the ability to invest any percentage of its holdings in other growth-projected companies. Ben Horowitz, Co-founder of Andreessen Horowitz, had earlier praised Bitcoin while calling it the “leader in store of value”. He also stated:
“The thing that’s deceptive about it is when the new platform at the time is generally worse, in most ways, than the old platform, but has some new capabilities. With crypto, it’s very similar in that it’s worse in most ways than the old computing platform. And that it’s slow. It’s really complex. It’s lacking a lot of features. But it has one feature that has never existed before. And that’s trust
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