Barry Silbert: 99.9% of Cryptocurrency Tokens Lack Value

Barry Silbert claims that 99.9% of cryptocurrency tokens are worthless, citing his high investment standards. He maintains a positive perspective on privacy tokens like Zcash, despite market downturns. Silbert reflects on his early Bitcoin investments and suggest that holding Bitcoin could have been more profitable than his infrastructure investments.

In a recent interview on “The Journeyman” podcast with financial expert Raoul Pal, Barry Silbert, founder of Digital Currency Group, asserted that 99.9% of cryptocurrency tokens lack value. He expressed his continuous curiosity in the crypto space over the last 13 years, reinforcing his claim that most tokens do not serve any meaningful purpose. Silbert indicated his high standards for investing, suggesting that his enthusiasm for new projects is very limited.

Silbert maintains a positive outlook on privacy-focused cryptocurrencies such as Zcash, despite their recent downturn. He believes there is a growing recognition of the importance of financial privacy, hinting at potential developments of private versions of Bitcoin. This reflects his optimism that such privacy features will become increasingly significant to users.

Reflecting on his own investment journey, Silbert began purchasing Bitcoin when its price was approximately $7 in 2011. Initially, he felt proud of his decision but later questioned his judgement when the price plummeted. Following Bitcoin’s rebound, he chose to invest in companies building its infrastructure, including Ripple. Silbert noted that, in retrospect, holding onto Bitcoin would have yielded higher returns than his investment strategies.