December 5th 2018

The famous American venture capitalist Jim Breuer never ceases to pin hopes on the business in the blockchain industry. At the 2018 Global Tech Forum event in Guangzhou, he said that he “was interested a lot” with this technology, but he found a less encouraging statement for cryptocurrency investors.

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“Right now, cryptocurrencies are ready to go into the nuclear winter phase,” said Breuer, an investor in Circle, Ethereum, VeChain and High Fidelity.

As noted by Fortune, “AI-winters” are common and are characterized by a periodic decline in interest in the technology of artificial intelligence, for which there are a number of documented evidence . In the early 2000s, amid the collapse of the dot-com bubble, venture investors avoided Internet companies, which, however, did not stop Breuer from investing in Facebook in 2005.

“These cycles are observed every decade or so,” Breuer said, calling this seasonality “inevitable.”

However, believing in Breuer’s blockchain is driven not only by his experience in investing in technology companies in the past, but also by meeting with students, entrepreneurs, and developers.

“So many of the best scientists in the field of computing systems and students who have received a doctoral degree and have already received it are working on the blockchain, because they have a huge fundamental interest in the blockchain,” said Breuer. “I would not want to play against the best and brightest minds in this world.”

In addition to the above projects, Breyer Capital in August of this year invested in Radar Relay, a startup developing a decentralized token exchange.

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