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December 5, 2022
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Jason Calacanis: “99% of crypto projects fit into the trash” Blocksats

Jason Calacanis, an early investor in companies such as Robinhood and Uber, claims that almost all cryptocurrency projects are run by “imaginary” idiots.

99% of crypto projects are suitable for the trash

Well-known investor and internet entrepreneur Jason Calacanis claims that 99% of cryptocurrency projects are “junk” and they are run by unskilled people. Calacanis believes, however, that the remaining 1% of them can change the fate of the world.

According to a tweet published on June 27 by early investor applications such as Uber or Robinhood, almost all cryptocurrency projects in the world are under the supervision of “unskilled idiots” or “cheaters” whose “skills are below average”.

Calacanis said, however, that projects with the greatest potential that are not “suitable for the trash” are the subject of his interest:

“I am waiting for this 1% to deliver my product so that I can talk to their customers.”

Altcoins are doing better than Bitcoin

Cointelegraph reported last week that many DeFi tokens, including Aave (LEND) and MakerDAO (MKR), recorded double-digit increases. Many of them achieved even better results than Bitcoin (BTC) alone, whose price has recently fallen below $ 9,000 more than once.

Calacanis’ views have changed over the course of one year. As early as May 2019, he predicted a bear market during which the BTC price would “probably fall to $ 500, if not zero.” During a recent interview with Anthony Pompliano, the entrepreneur said he is willing to invest a maximum of 3% of his portfolio in BTC.

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