Cryptocurrency: 2019 Update (w/ Tuur Demeester)

Tuur Demeester, founder of Adamant Capital, provides a broad update on cryptocurrency markets. He shares his analysis of the 2018 crypto selloff as well as his future market outlook. Additionally, Demeester discusses his view of the future of blockchain based smart contracts, payment processing, and asset tokenization. Filmed on December 13, 2018 in Austin, Texas.

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Cryptocurrency: 2019 Update (w/ Tuur Demeester)
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Transcript:
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That doesn’t mean that the bottom is here. I mean, accumulation can happen throughout a bear
market. But it is what eventually is going to build a bottom in the price. And then on the other
hand, we just need to see the selling being exhausted. There is going to ICOs that are going to
keep selling their treasuries because, in many cases, I think they’ll be forced to do some kind of
refund to their customers. There’s also hedge funds that may be unwinding that need to be
selling.
And so it’s hard to tell where exactly the bottom is. I think bitcoin cycles are lengthening, like we
are moving towards bitcoin as being just another commodity like copper and gold, very large
market, slower moving cycles. And so that could mean that this bear market is going to last a bit
longer than previous ones as well. But that being said, if I look at the value indicators that we’ve
built, they are showing that right now bitcoin is a fair value. You can no longer say that bitcoin is
overvalued.
And I see it in the sentiment as well, whereas a few months ago, there was a lot of hope still.
There was excitement about where we were going to go towards the end of the year. And that’s
turned into, I would say, somewhat disgust. People feel betrayed to some extent. I’m getting the
Twitter equivalent of hate mail, which I don’t think is because people hate me. I just think that
they’re reminded of bitcoin because they see something that I posted.
And so that, to me, means capitulation. I think we’re in the capitulation phase. And so this is
where I feel best. This is the time for me to accumulate, to do business. And a lot of the noise has
been stripped away. And with the tide that’s receded, whoever is still standing, those are the
people I think worth looking at and ideas worth exploring.
Where do you see value in this market?
So where do I see real value in this market today? I see it in bitcoin. I think bitcoin is showing that
it is a very liquid market. It is a valid asset to be diversified into. If you think about long-term store
of value, it has a cap supply, predictable monetary policy. It’s extremely secure, it’s censorshipresistant, all those features.
And it’s actually decentralized, because I think that’s what we’re learning now, is that a lot of
projects that were kind of running on that wave of we are decentralized or we are blockchain–
you know, it’s becoming clear that that’s not easy to actually make your token or asset
decentralized and secure. We’re seeing a lot of 51% attacks on the smaller coins starting to
happen now and the regulators cracking down on the more centralized projects. So I think bitcoin
is really shining in this adversarial environment.

Cryptocurrency: 2019 Update (w/ Tuur Demeester)

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About The Author

Kane Dane