Within the framework of the “Industrial Day” of the Bitcoin 2022 conference that takes place in Miami, United States, four important businessmen from the investment world yesterday, April 6, provided their vision of the business possibilities in Bitcoin and its ecosystem. They agreed that billionaire investment opportunities are being presented that can be considered “among the best in history.”
The discussion was moderated by Ryan Selkis, CEO and co-founder of Messari, and was called “Investing in the Bitcoin Ecosystem.” The innovations, the role of Bitcoin in the development of new solutions and the possibility of issuing stablecoins in the Lightning Network (LN) were the main axes of the talk.
The four entrepreneurs who participated in the conference were Alyse Killeen (managing partner of StillMark, a Bitcoin and Lightning network investment company); Pete Najarian (Managing Partner of RW3 Ventures); Greg Carson (managing partner at Humla Ventures and director at XBTO Group); Mark Yusko (Founder and CEO of Morgan Creek Capital Management). They all share one thing in common, and that is that their companies are dedicated to investing in technology companies, many of them linked to Bitcoin and their protocols.
Greg Carson was one of the most forceful in sharing his perspective on the subject. Businessman pointed out the enormous variety of investment opportunities that are presented today and he also spoke of three layers. The first is Bitcoin itself, and investments in this layer are “very good investments.”
The second layer includes derivatives of Bitcoin, for example, applications that are developed on this network or its side chains. “Some of these ideas will turn out to be useful,” he said. An example of this that has been reported in CriptoNoticias is the growth of decentralized finance (DeFi) protocols on Bitcoin sidechains.
Carson then added that the third layer is the new “Silicon Valley of the world.” Here he included the “shitcoins“, a space in which, as he said, there is a lot of innovation and there are many investment opportunities, “although not all of them are safe”.
Continuing the dialogue, Mark Yusko gave his opinion on the matter: “Bitcoin is the foundational technology, as was the internet, and everything will be built on it,” he began. Afterward, he referred to the ongoing construction of a “trustnet«, which is where commodities, coins, stocks, bonds “and everything that has value” will be tokenized to be traded on it. Something similar is already seen today, with tokens whose value is tied to the assets of the agricultural sector in Argentina, for example.
Regarding the future, Yusko is optimistic and assures that “the innovation that is coming is much greater than what has already happened.” For this reason, he maintains, it is good to have most of the investments in Bitcoin, but it is also convenient to invest in developments that are based on Bitcoin.
Greg Carson agreed with this vision. “The transactions and yield (interest generation) based on Bitcoin will become massive, and that is why there are many investment opportunities there, “he assured.
Stablecoins and Bitcoin can be linked
To kick off this second part of the dialogue, moderator Ryan Selkis highlighted the fact that there are $180 billion worth of stablecoins being traded on the Ethereum network right now. And what happens in the Bitcoin Lightning network?, he asked his interlocutors on stage, to inquire about the possibility of issuing stable cryptocurrencies in the second layer network of Bitcoin.
On this option, Alyse Killeen said that these stable cryptocurrencies in Bitcoin “would be a kill shot (a fatal shot) for other protocols.” “Maybe not in 20 months, but in several years we’re going to see these assets trading on the Lightning Network,” he added.
As CriptoNoticias has reported, the first advances related to this are already beginning to be seen. New developments would allow the issuance, transfer and exchange of tokens (including stablecoins) within the Bitcoin Lightning network.
For his part, Greg Carson said that stablecoins are a key point for the infrastructure of the future. The question is whether Bitcoin will be number one or not, but “stablecoins can grow 20 times what they are today”. For this reason, he considers that this industry is “one of the most important investment opportunities of all time.”
Likewise, Carson assured that the financial markets are transforming and that stablecoins have to be part of the new billion-dollar investment opportunities that are being created.
In contrast, Pete Najarian opined that stablecoins will not fully serve their purpose if they are only backed by the US dollar, but that there must be a “basket” of currencies that support them.