The total amount of cryptocurrencies which were ever created has now climbed above 2000. Altcoins are created almost daily, but 99.9% of them last less than a month or two. This is why many crypto investors who believe in the future of crypto stick mainly to bitcoin. Heisenberg Capital is one of the biggest VC firms that has invested into crypto and the company recently shared their intent to focus exclusively on bitcoin.
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We see the market rejecting everything, except BTC.
This has been our dominant investing thesis since 2011.
We’re doubling down on Bitcoin Maximalism with new capital.
As BTC climbs toward our 2011 target of $100,000, we believe everything except BTC will die-off.
— Heisenberg Capital (@HeisenbergCap) May 5, 2019
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The $100K price target on Bitcoin might seem far off but if any cryptocurrency can reach that amount, it’s bitcoin. Heisenberg Capital has also funded many of the most famous crypto startups like Bitfinex, ShapeShift and Kraken. The firm believes that other well-known and respected cryptocurrencies like Ethereum and XRP will simply be rejected by the market.
Heisenberg Capital has a strict policy
The founders Max Keiser and Stacey Herbert have not just recently started prioritizing bitcoin. This “bitcoin first” policy was present in the company from a long time and didn’t change even throughout the biggest depths of the bear market.
Keiser believes that bitcoin is in a league of its own and will blow away all competition.
#Decoupling #Bitcoin is breaking away from the pack. pic.twitter.com/2iuWA2lVjS
— Max Keiser, tweet poet. (@maxkeiser) May 4, 2019
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He stated that one factor which will play a huge role in bitcoin’s way to $100K is the supply. Keiser thinks that once the price goes up to $30K, a gold rush will be triggered that will push the price all the way up to $100K.
This interesting idea will be put to the test a year from now in May 2020. The bitcoin output will be halved and if look at history, a huge and steady price increase begins a year from then.
Keiser’s tweets were met with a heavy dose of skepticism. Many people were quick to note that during the 2017 bull run, bitcoin wasn’t even in the top 10 best performers.
Others were quick to note that Heisenberg Capital has heavy investments put into ShapeShift. ShapeShift itself is focused on the trade between altcoins and bitcoin. The firm also has direct investments in other alternative blockchain projects like Starcoin, EOS.fish and Storj.
If the firm really intends to double down on bitcoin, it needs to stray away from such alternative projects. A lot of experts also tend to theorize that if bitcoin really takes off up to a $100K, a few altcoins just might hitch a ride on its back.
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The post Heisenberg Capital: Bitcoin is in a League of its Own appeared first on CoinStaker | Bitcoin News.