The Bitcoin London conference was about two weeks ago, but it’s still making a lot of ink run. A few days ago, the blog Tropical Post shared some views of the event and a conversation with the representative of Passion Capital, Stefan Glaenzer. The financial expert, who was recently considered the best angel investor in Europe, admitted he was “totally clueless” and still learning about Bitcoin.
Like other joint ventures and similar companies, Passion Capital and its members are still realising the full potential of cryptocurrency. They truly believe in it, but they are still gathering knowledge and also waiting to see how the governments and financial authorities will play this out.
“You tend to become lazy as a VC. You wait until somebody is approaching you. And the reason why I gladly accepted this invite [to the conference] is I want to be more on the active side and understand what action is really going on with Bitcoin“, Stefan Glaenzer explained.
According to the investor, evidence shows that investors are still in a learning curve. Take this as an example: from April 2012 to April 2013, of the nearly 2,000 business plans Passion Capital reviewed, “there was not a single Bitcoin business plan among them”. What could be the reason?
The expert says that there is “an element of herd mentality around all this. It’s this element of respectability you need when you’re going upstream to the guys who’ve given you the money”.
“We’re very much getting to the point where the exposure of the investors and our customers is there and that’s going to make things a lot, lot easier”, Stefan Glaenzer adds. Let’s cross our fingers and hope so.