Yeoman’s Growth Capital Director and Entrepreneur David Johnston Goes Full-Tilt Bitcoin
The recognized tech entrepreneur David Johnston, managing director at Yeoman’s Growth Capital (YGC) has decided to go all-in on Bitcoin. According to Micky, he said that he put all his money on the most popular virtual currency because dollars have inflation and Bitcoin does not.
Tech Entrepreneur David Johnston Invest in Bitcoin
The most popular digital asset, Bitcoin, has been praised all over the world and by many firms for being a deflationary digital asset. As more individuals enter the space and purchase Bitcoin, its price will move upwards. Bitcoin inflation rates become lower every four years and there will never be more than 21 million BTC:
Due to his investments in Bitcoin, Mr. Johnston started an angel investing group that is called BitAngels. The investing group has now more than 500 members in different countries. As Johnston explained, they were investing in early-stage Bitcoin companies before everyone knew about them.
He has also explained that they worked with Ethereum (ETH) at the very beginning and with many other projects that were starting in the market. Thus, they ended up making over 40 different investments across the industry.
Although 2018 has not been a positive year for Bitcoin, this did not stop Mr. Johnston from investing in the blockchain space. According to him, the projects that remain operating are those that continue receiving customers and help drive user adoption.
Johnston mentions that the fundamentals behind Bitcoin are also improving. He specifically mentioned the number of blockchain wallets created, which has doubled in the last 12 months.
Mr. Johnston commented about crypto projects:
“I really like what groups like Stellar are doing to airdrop to 30 million people their tokens (and) sort of pushing mass adoption forward. […] And then we’ve got all these big projects in the wings. You’ve got telegram with 200 million users. (If) they do their airdrop – it’ll quadruple the size of the ecosystem as far as the number of users.”
For the future, Mr. Johnston believes that the market will hit a billion users by the end of the next year. He compared the digital currency market with the dotcom bubble saying that while most individuals were paying attention at the price, the number of internet connections continued to grow.
Stablecoins, user-friendliness, and security tokens are going to be the future for the entrepreneur. He talked about Facebook Coin and how it could help the crypto market reached a large number of users.
About security tokens, he talked about a trend that the market could start seeing in the near future. He said that real estate companies could be represented digitally and company equities can have their digital representation as well. This will clearly reduce costs and make industries much more efficient.