FirstMark Director: Bitcoin Needs Entrepreneurs Who Understand Money
Despite the record levels of venture capital pouring into the bitcoin ecosystem, there is still one determining factor that is holding back overall ecosystem development – the inexperience of the technology’s entrepreneurs.
At least, that’s the opinion of FirstMark Capital managing director Lawrence Lenihan, who, despite overseeing his firm’s first bitcoin investment in Coinapult this October and being a self-described “bitcoin bull”, argues that many current bitcoin entrepreneurs fail to understand how the traditional financial system works.
Lenihan, whose firm has backed marquee startups such as Lumosity, Pinterest and Shopify, indicated that this knowledge gap has impacted his firm’s ability to capitalize on its own interest in the bitcoin ecosystem.
Lenihan told CoinDesk:
This post was published at Coin Desk on December 7, 2014.