VC Backed Crypto Projects Are Risky – Says Bitgert Founder
The Bitgert project has been growing organically over the last 9 months based on the project’s attractiveness
Key Points:
- VC backed projects are the most hit today
- Bitgert is not VC a supported project
- Bitgert expected to remain stable
The crypto market is crashing, and this one is the biggest crash in 2022. Most projects, including Bitcoin, are now trading at a price last seen in early December 2020. That’s how bad the market has been. But according to the Bitgert Founder, there is a trend that is common with most of the projects that are crashing fast. Most of them are VC (Venture Capital) backed.
According to the Bitgert Founder, most VC-backed projects like Terra LUNA have been the most affected. This is at a time when projects that have grown organically without VCs, like Bitgert, have been resilient, with stable prices during this bear market.
One of the biggest challenges with having venture capital backed projects, according to the Bitgert Founder, is that investors can pull off their investment at any time. That’s a perfect case with the current market. Because of the huge capital that VCs have on a project, they can easily collapse the project with panic withdrawals they trigger.
That’s what’s happening with most projects doing badly in the market today. This leaves projects that are funded by the community to remain stable. A good example is the Bitgert. According to the Bitgert Founder, Bitgert is one of the projects that reached $700M without VCs.
The Bitgert project has been growing organically over the last 9 months based on the project’s attractiveness. The Bitgert team is building one of the most powerful blockchain ecosystems, which has a range of NFTs, Defi, and Web3 products. The disruptiveness of the blockchain products that Bitgert is building has been attracting investors.
Even during the current bearish market, the Bitgert Founder confirmed that Bitgert has been growing its holders’ count. This is because most of the fast-collapsing VC-backed projects have been joining Bitgert.
According to the Bitgert Founder, investing in VC backed projects is risky, and it has been proven by the current bearish market. They can collapse immediately after VCs pull off their investment in a project.
In conclusion, crypto investors might need to look for projects that are not VC supported in the future. Already, Bitgert is one of such projects, and BRISE investors are not doing badly. The Bitgert coin has managed to maintain a stable price during the current bear market.
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