Famous crypto billionaire Brock Pierce shares his 3 favorite investment alternatives. It also explains why Bitcoin maximalists are wrong. A self-made billionaire, Brock Pierce is one of the world’s biggest crypto advocates. Pierce is an ardent Bitcoin bull, but still says Bitcoin “maximalists” made a mistake. He shares three of his favorite altcoin projects alongside the world’s largest cryptocurrency. Detail cryptocoin.com‘in.
3 favorite altcoin projects
Unlike most self-made entrepreneurs, Brock Pierce was famous before he got rich. The 41-year-old cryptocurrency billionaire became widely known before his 13th birthday thanks to his role in Disney’s movie “The Mighty Ducks.” Pierce said goodbye to Hollywood in the late 1990s and started getting involved in cryptocurrencies more than 10 years before they went mainstream. In the two decades since then, Pierce has grown into one of the biggest names in crypto. After co-founding Blockchain Capital, a crypto-focused venture capital firm, and Tether, the largest stablecoin in the market, Pierce is now one of the world’s most influential crypto-asset advocates.
Pierce has made educating world leaders about crypto one of his top priorities. Last fall, he led the crypto team that mentored El Salvador President Nayib Bukele as the country adopted Bitcoin as its official currency. It was an unprecedented victory. In a recent interview with Insider, he told Insider that leaders in “more than 30 governments” had discussed with him about following in El Salvador’s footsteps. He confirmed that he plans to take the fight for crypto-friendly regulation into his own hands by attempting to get into the US Senate in 2022. Pierce says on the subject:
Obviously I take a very serious look at how the US is involved in the process, and it starts with people who really understand what’s going on, sitting at the table and having these conversations happen. I spend a lot of time in Washington DC talking to our elected officials, state and federal legislatures, and trying to keep them informed so they can provide the information they need to make wise, informed decisions about our people.
For Pierce, crypto is more than a promising technology or a way to store and build wealth. He sees this as a way of giving “economic opportunity for all” by restoring accountability in a financial system marked by “shadow” and “transparency” and “democratizing and decentralizing the economy” to work for all. “Like the Internet, the implications of this technology are significant and wide, but at its core it is just a database,” Pierce said. And with this distributed database, we can probably do all sorts of things that will affect everything.”
“Maximalists” are wrong: Three Bitcoin alternatives to consider
Despite Pierce’s unwavering belief in Bitcoin, a Bitcoin is not a maximalist. So-called “Maxis” believes that the world’s largest token, as well as all blockchain-based cryptos, are inferior. A narrow line of thought that, in Pierce’s view, is detrimental to progress. Pierce said, “I don’t want to be so rigid in my views that I close the door to what can be successful. If someone succeeds in making the world a better place, we all win. So why would I want to close the door to a technology that could be successful?” he speaks.
Pierce talked about three BTC alternative altcoin projects he owns and likes, but these ideas are not investment advice. We begin Pierce’s comments on these three altcoin projects. The reputation investor says about EOS:
One of the projects that I am very active and re-involved in is a project called EOS. I was involved in its creation. It was the most successful altcoin of its time, with sales of over $4 billion. And this project is maturing and really interesting things are coming out of it. That’s why I’m currently focusing most of my time and attention on this project.
Speaking about Bit Digital (BTBT), the investor said:
It is similar to a Riot (RIOT) or Marathon (MARA). I sit on the board of Bit Digital, a very large mining operation. So I wouldn’t be sitting on that board if I didn’t. I don’t see potential in these considerations. In my opinion, yes, this is a reasonable way to invest and open up to the industry.
Investor’s comments on Coinbase (COIN) are as follows:
I am a Coinbase shareholder. Through my firm, Blockchain Capital – or my previous firm – we were a fairly large investor in Coinbase and were very, very public about this investment. I continue to hold shares in the public company, Personally I am a fan. Frankly, Coinbase has been quite successful in this area. Still, I encourage people to have direct exposure to key assets if you’re going to invest in this space. But public stocks are also, in one sense or another, a way of gaining exposure to the industry. Of course, if you’re new to the industry and don’t know how to buy, hold and secure crypto, this can be a safe way to get some exposure in the traditional way.
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