Uncertainty about governments could make cryptocurrency like bitcoin an even more in-demand commodity, said Lightspeed Venture Partners partner Jeremy Liew. <\/p>\n
\"Bitcoin and the other digital currencies, they all really see a lot of benefit in times of political and economic instability,\" Liew said to CNBC. \"Fundamentally when a citizen doesn't have faith in their currency of their country, then they are looking for alternatives, and a digital alternative like bitcoin becomes much more compelling in those circumstances.\" <\/p>\n
Lightspeed co-led the first venture round in Blockchain, a bitcoin wallet, in October 2014. Liew also led the first venture investment in Snap, whose IPO in March turned a $485,000 investment into a stake worth more than $1 billion. <\/p>\n
Liew said in parts of the Middle East, Africa, South America and Eastern Europe, concerns over the government being overthrown or persistent long-term currency inflation have been driving bitcoin's increasing valuation. A bitcoin is valued at a little over $2,800 as of Tuesday afternoon, according to Coindesk. <\/p>\n
While there are other cryptocurrencies like ethereum, Liew points out it's currently valued at just a fraction of bitcoin's market cap. <\/p>\n
\"If you're going to be an investor in anything, you want to be where the most trading volume is happening, and right now that's happening in bitcoin,\" he said. <\/p>\n
<\/p>\n
Read more:<\/p>\n
The first investor in Snapchat explains why the bitcoin rally is just getting started - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Uncertainty about governments could make cryptocurrency like bitcoin an even more in-demand commodity, said Lightspeed Venture Partners partner Jeremy Liew. \"Bitcoin and the other digital currencies, they all really see a lot of benefit in times of political and economic instability,\" Liew said to CNBC. Continue reading