Bitcoin (and Blockchain)

by

Andreessen Horowitz

1. Institutional acceptance

Patience, please — ‘legal’ Bitcoin is actually only one year old! That is, even though the Bitcoin source code was posted to the Internet in 2009, it was only clearly legal for American institutions to get involved with it after the IRS tax guidance was published in March 2014 (as late as December 2013, the New York Times had published articles predicting and/or calling for a ban). But just a few short months later, former and current officials now publicly laugh at such a thought and have openly embraced Bitcoin.

So the clock has just begun on Bitcoin’s acceptance more broadly. Crash or no crash, we should expect a significant increase in the level of institutional adoption this year. Specifically, a large number of companies will put together groups focused on what Bitcoin means to them — and as early as next year we’ll start to hear…

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