Uber Investor Calls 99% of Crypto Projects Garbage

Uber Angel Investor Claims That 99% of Crypto Projects Are Garbage

Prominent internet entrepreneur and angel investor of Robinhood and Uber Jason Calacanis believes that 99% of crypto projects are “garbage” managed by individuals who lack necessary qualification, but holds out hope for the 1% who has the power to change the world.

On June 27 the angel investor posted on Twitter that almost all crypto projects around the world are under the control of “unqualified idiots” or “grifters” whose skills are below average:

However, Calacanis said that the project with the most potential without these undesirable qualities are what spurs his interest: “I’m waiting for that 1% to deliver their product so I can talk to their customers.”

Altcoins showing better performance than Bitcoin

According to the reports, many DeFi tokens including Aave (LEND) and MakerDAO had posted double-digit gains. Many of them even managed to outperform Bitcoin (BTC) which sank below $9,000 more than once.

Calacanis’ stance on Bitcoin has changed. In May 2019, he said that he expects Bitcoin to go to the bears, and its price likely to fall to $500, if not zero. However, during a recent interview with Anthony Pompliano, the entrepreneur stated that he might be ready to invest up to 3% of his net worth into Bitcoin.