Despite fears of a bitcoin bubble, Sequoia’s Matt Huang thinks cryptocurrencies and blockchain startups have big potential — and he’s investing millions.
Venture capitalists are supposed to be on the front lines of new technology.
But when it comes to cryptocurrencies and blockchain startups, VCs have been gun-shy.
Matt Huang, a partner at Sequoia Capital, understands the wariness. After all, investing in blockchain startups means betting on complex, new technology and putting your faith — and capital — into largely unproven alternatives to equity.
Despite the risks and the fears of a “bitcoin bubble,” Sequoia and Huang are jumping in. The storied VC firm, which made a name for itself with early bets on companies like Oracle and Google, has invested millions in two blockchain startups — Orchid Labs and Filecoin — and two cryptocurrency hedge funds, MetaStable and Polychain Capital.
We checked in with Huang to find out what gives him confidence to invest in this emerging industry and how crypto is changing both the tech landscape and the business of VC investing.
Source/More: Sequoia Capital partner on why he’s investing in cryptocurrency and blockchain startups – Business Insider
