Bitcoin is great tech, but its days are almost over: Token Metrics CEO

go here to discuss the volatility token metrics founder and ceo ian bolina ian thanks for joining us today thank you for having me so let's start i i realize there's more to cryptocurrency than just bitcoin but let's start with bitcoin the fact that you do have this limited supply uh hearing a lot about the fact that we're in this price discovery stage for the asset class as well i is the way to think about this especially if you are a retail investor or somebody who's new to trading in general and this has caught your eye you've gotten involved the way to think about this that at least with bitcoin specifically volatility is inherent to the product yes absolutely so cryptocurrencies one of the beauties of them is that it's very volatile but as a result of that there's lots of upside lots of retail investors and traders are joining the space because of the huge gains whether in bitcoin whether in ethereum whether in deutsche norm coins but at the end of the day they should zoom out and have a big picture of you because right now bitcoin and cryptocurrencies are building the future of finance the future of open money and if they have that big picture then they should huddle and think long term so when you talk about that and we were having this conversation about defy in general earlier on in the show i mean i i've heard a lot of the arguments especially with companies that are holding bitcoin for example on their balance sheets that they see this as digital gold it's a hedge against deflation it's a hedge against loose monetary policy that is over the long term devaluing the dollar is not is that not the key argument for these cryptocurrencies is it defy and blockchain and the applications to financials more broadly yes i mean so defy is a huge market these centralized finance is in my opinion building the new internet is putting open finance what does that mean if we go back and look at the dot com era we had big companies like google yahoo amazon ebay this was the first generation the first wave of the internet then we had web 2.

This was basically social media connecting people on the internet we had basically we had youtube twitter facebook and now we have web3 taking those online communities and giving them entire ecosystem and currency to transact and be able to exchange value between two people with trust so we view cryptocurrencies and this entire space as not just open finance but as the next evolution of the internet and when you have that big picture then you can see the value of crypto assets so then what becomes most attractive for somebody who maybe is willing to huddle as you put it uh and and is willing to live with the volatility uh in this asset class right now is it bitcoin is it ether and ethereum or is it something like the meme coins which i mean safe moon is the one this week that's getting all the attention no i mean yes safe moon and all these meme coins have lots of interest from newbies but at the end of the day at talking metrics our approach is this we we like to take a fundamental analysis approach to cryptocurrency investing we're basically value investors and while meme coins are fun when the music stops playing like happened this week safe moon dropped the most yesterday out of all the assets something in the crypto space when the music stopped playing and their crashes because in crypto it's a very volatile market you can wake up and in 12 hours your portfolio is down 40 and there's no need to go chasing meme coins when you can find similar type returns and projects that will still be around in five years so projects like ethereum bitcoin binance binance bnb token which launched back in 2017 has delivered almost 10 000 x returns so why go chasing meme coins and take on that additional risk when you can find similar projects that will still be around and give you even better returns long term now at tokyo at tokametrix we have a very contrarian approach we think bitcoin is great technology but we think bitcoins days are almost over because bitcoin was designed to be digital cash but now it's becoming just purely a store value it's becoming digital gold and the gold market cap is let's say 10 to 12 trillion but if we look at crypto assets as being the next internet as through d5 that's happening on ethereum d5 went from 1 billion to 65 billion in total assets in just 12 months all right that's just purely on ethereum and twice as and all of d5 is over 100 billion dollars and that's happening throughout all of crypto but half of that is happening on ethereum ethereum has twice as has almost ten times more monthly active developers than bitcoin shepard smith here thanks for watching cnbc on youtube

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