Theres more crypto destruction to come: Blockchain.com CEO
Summary
For cryptocurrency investors who experienced their first bout of crypto panic in recent weeks — witnessing not only big bitcoin declines but the crash in stablecoins and the collapse of Luna, Terra and Terraform Labs founder Do Kwon — get used to it, according to Blockchain.com CEO Peter Smith. For the crypto investor, he says the lesson of the past few weeks should be back to the crypto equivalent of the traditional market investing concept of dollar-cost averaging — slowly building a position in an asset over time so all your money isnt exposed to any single bout of volatility. This process will include more destruction in the short term as weaker links in the crypto economy are wiped out. Smith remained the crypto bull, telling CNBC as someone now witnessing their "fourth or fifth" market cycle in the volatile fintech sector, that "every single time its been brutal pain on the way in but led to a stronger industry, and more useful industry, and real fundamental growth over the next two to three years that follow." SIGN UP for our weekly, original newsletter that goes beyond the list, offering a closer look at CNBC Disruptor 50 companies, and the founders who continue to innovate across every sector of the economy.
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