Well-known entrepreneur Jeffrey wernick, who began to invest in bitcoin in 2009, believes that many people have the completely wrong idea about the main cryptocurrency, forgetting at first about the philosophy that lay at its Foundation. He said this in an interview with Business Insider.
In particular, Jeffrey wernick recalls that bitcoin was created as an alternative currency that is beyond the reach of governments and traditional financial institutions.
“Now many more talking about the blockchain than bitcoin. They just are in search of alternative models of earnings, and they did not care about the original philosophical construct that initially attracted people to bitcoin in 2009 and helped him to survive in 2013 and 2014, when his popularity began suddenly to grow. There was a small universe of people who actively worked to bitcoin lived, continued to mine and buy, and they did it because they believed in the idea of people’s money,” said Jeffrey wernick.
According to him, investments in bitcoin should be seen as a form of protest against governments and their ongoing financial policy. While these investments are likely to be quite profitable.
“I think in five years, investments in bitcoin will bring much more than any other alternative investment. However, we should not buy more than you can afford, because I could be wrong. In addition, this will also be another signal to the government that says, “what you are doing, is absolutely unacceptable,” says wernick.
In this context, the entrepreneur reminds you to remember about how the traditional financial system, where everything is intended to encourage people to borrow from banks new loans.
“So the only way that will help the typical representative of the middle class to save funds is to invest a certain percentage of the cryptocurrency”, — he added.
Largely for this reason, says wernick, States so hostile towards bitcoin, doing everything possible to kill him.
His career Jeffrey wernick began at the investment Bank Salomon Brothers and National Bank of Detroit. After that, he founded and then sold the company for risk management AVI Portfolio Services Company, Inc.
Today Jeffrey wernick is an independent investor, whose portfolio includes early action, Uber and Airbnb. He is also an Advisory Council DataWallet and Qtum.
We will remind, earlier this month, the maker of Litecoin Charlie Lee encouraged investors to begin to purchase at least one bitcoin, and only then to consider the purchase of other altcoins.