Binance.US CEO Brian Shroder is still bullish on bitcoin and recently bought the cryptocurrency amid its more than 70% price decline, according to an interview with Insider’s global editor-in-chief Nicholas Carson last week.
Shroder told Carson that he set a trigger to buy bitcoin at $29,000 and $19,000, both of which were executed amid the price decline.
“I continue to buy, I’m continuing my personal investment journey, and obviously I personally and professionally believe in crypto long [term],” Shroder said at the Toronto-based Collision conference, adding that he invests in over 30 different crypto assets.
“The amazing part of crypto is each asset is so unique, and so you can really go down the rabbit hole for different coin and token projects and become passionate believers… and the utility, governance structure, and token economics of one project is so different from the other, so there’s a lot of different coin and token projects that I think are really interesting,” Shroder said.
Shroder said that one crypto project that he is bullish on for its utility is Helium, which is a blockchain-powered wireless network that uses internet of things devices to send and receive data to and from the internet, and awards users that host device hotspots to the network with tokens.
“I really like Helium because it’s basically creating a network and a motivation to make a network stronger through cryptocurrency. So incentivizing people to go find dead spots where there are people that need network connectivity for your internet of things and perhaps in the future your phone, that’s amazing,” Shroder said.
Helium has a current market value of about $1.3 billion, and while it may have strong utility that grows over time, it hasn’t been spared in the cryptocurrency sell-off that erased $2 trillion in value. After hitting a high of $52.71 in November, Helium prices have since declined 80% to $10.61 today.
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