FTX U.S. President Brett Harrison told CNBC’s ‘Squawk Box’ on Thursday that the crypto industry is still seeing huge venture capital investments despite the tough times occasioned by the bear market.
According to the boss of FTX US, as the industry continues to deal with the brutal force of the crypto winter, the markets will eventually recover.
He notes more capital, as projects take the downturn as an opportunity to build, bringing in new talent and products, a bounce out of the hole could see more people adopt crypto and related services.
Different Bitcoin Valuation Methods
Speaking specifically about Bitcoin, the world’s leading cryptocurrency, Harrison says there are different ways to look at the value of BTC. He notes that different people look at this aspect differently.
“It’s difficult,” he told CNBC as he discussed some of the different methods of looking at Bitcoin.
“There are many different methods offered. Part of this has to do with the future flow of all bitcoin that might be mined in the system and of course the cost of mining that bitcoin.,” he added.
Another way of looking at it is what some people see as “a store of value, something that is independent of any particular government’s control. Monetary supply that’s safe and can be moved around the world, you know, safely and instantly.”
