🎶 [Analysis] Beware the siren song of "crypto VC" – Pierre Rochard

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. &nbsp

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.