Lyft, the world’s second largest carpool startup after Uber, based in San Francisco, gave a visit to Nasdaq on Friday after months of media interest. Although this has little to do with cryptomoney, some industry commentators argue that Lyft’s success in the US markets represents a good opportunity for Bitcoin (BTC) and other digital assets.
The biggest start-ups in Silicon Valley could go public, could cryptocurrencies take over?
Today, the largest companies in Silicon Valley are going public, as companies seek to move away from the investment fund financing model.
This “initial public offering frenzy”, as the Wall Street Journal calls it, will allow venture capital firms to slowly unload billions of dollars worth of shares of the companies mentioned, as long as their lock-up agreement allows them to do so. Much of the money (said to be in the tens or even hundreds of billions) raised through the sale of shares will likely be reinvested in some of Silicon Valley’s most popular names, including companies that support Bitcoin.
These are not just unfounded speculations.
Knowing that a16z obtained Lyft shares for $4.25 per share in a private tower years ago and that the same shares are now selling for $77 in the public market, bringing the net amount to $1.8 billion, according to the major venture capital company.
If industry giants begin to take an interest in Blockchain technology, it is highly likely that the cryptomics market will be able to benefit from it in 2019/2020. Indeed, many personalities like Hayes explain that we can expect Bitcoin to reach the five figures again by the end of this year.