Uber’s Angel Investor: „99% of cryptomoney projects are rubbish“

Prominent angel investor and Internet entrepreneur Jason Calacanis says 99% of altcoin projects are „junk“ run by unskilled people, but he holds out hope that the 1% can change the world.

According to a Tweet posted on June 27 by the angel investor behind the Uber travel exchange application and the Robinhood crypto trading application, nearly all crypto projects around the world are under the control of „unqualified idiots“ or „con artists“ with below-average skills:

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However, Calacanis stated that the projects with the greatest potential that lack these undesirable qualities are those that arouse his interest: „I am waiting for that 1% to deliver their product so that I can talk to their clients“.

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Cointelegraph reported last week that many DeFi tokens, including Aave (LEND) and MakerDAO (MKR) had recorded double-digit gains. Many even outperformed Bitcoin (BTC), which fell below USD 9,000 more than once.

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Calacanis‘ views on Bitcoin have changed. In May 2019, he predicted that BTC would decline, predicting that the price would probably fall to USD 500, if not to zero. However, during a recent interview with Anthony Pompliano, the entrepreneur said that he might be willing to invest up to 3% of his net worth in BTC.