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Marc Andreessen

by Logan King

Marc Andreessen, founding partner of the venture capital firm Andreessen Horowitz (a16z), is now more bullish on Ethereum and Web 3 than he is on Bitcoin, contrary to his outlook in 2014. In an interview with ReasonTV, Andreessen discussed the potential of crypto and Web3, which he believes can provide a layer of trust to enable a full economy. He believes Bitcoin has “stalled out” and “stopped evolving” and that Ethereum is now the premiere network. Andreessen believes Bitcoin can help increase economic freedom throughout the world as a form of money, but he acknowledges that money can take various forms. A16z is one of the largest venture capital firms in crypto, investing billions into token purchases and Web3 tech. Recently, the crypto community expressed concern after the VC giant exerted its power to singlehandedly stonewall a new governance proposal. Jack Dorsey, co-founder of Twitter and Bitcoin believer, has even mocked Web3 and its related VCs by launching his own decentralized identity application on Bitcoin, called “Web 5.”

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