Oct 19, 2018Â â‹…Â 1 min read
This post was written in response to Scott Kupor's "how to think about crypto investing, for institutional investors" which was covered by Messari here.  
Pierre argues that institutional investors shouldn't speculate on private "cryptonetwork tokens" which Scott Kupor advocates for. Instead, investors should figure out their speculative allocation to bitcoins as a growth currency separately from figuring out their investment allocation to venture funds. Though bitcoin is a non-productive asset like a currency, Pierre argues that it is a growth currency - a currency whose growth rate is greater than the rate at which new tokens are created, which leads to deflation - and is thus a worthy investment. Furthermore, Pierre believes that unlike the other tokens, bitcoin is the only proven cryptonetwork. Thus, investing in it is a more evidence-based decision.
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