Crypto investor Jan Smit on the massive potential in BSV startups

Startup investor Jan Smit sees massive potential in BSV startups

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It’s every entrepreneur’s dream to find investors who can help take his business to the world and make his dream a reality. For entrepreneurs building their businesses on the Bitcoin SV (BSV) blockchain, the inaugural Bitcoin Association Pitch Day offered them this opportunity. Jan Smit, a general partner at Two Hop Ventures, was one of the panelists and as he revealed to CoinGeek’s Stephanie Tower, he was more than impressed with most of the projects.

Smit applauded the Bitcoin Association for a “fantastically organized day,” adding that the quality of the pitches didn’t disappoint. He stated, “To see 14 enthusiastic teams who are starting up a business was a tremendous opportunity for us. First of all we got to confirm that there’s lots of opportunities, lots of people are developing, which is great to see. […] There were some very good ideas, ideas that I’ve never seen before.”

Smit’s Two Hop Ventures describes itself as the first BSV venture capital fund that invests fiat for traditional equity into startups building on the BSV blockchain only. Together with his fellow partner Alex Fauvel, Smit also invests his time and resources into educating the masses on BSV, posting several blog posts on the technology that underpins it.

Being an experienced investor, Smit explains what makes a good pitch:

I like them short, first of all. A clear description of the product. Sometimes we have to go through 10 minutes of a story, and then finally find out what the product was. And then the market, who are they competing against, how big is the market, how fast will it grow and exactly what customers will they focus on. If you address those points, then I’m already happy and we don’t have to necessarily go into operations and all that kind of stuff.

Smit revealed that the reason he invests in BSV startups is quite simple: it’s the best chain to store data and the best ledger. It allows the developers to scale their applications easily and it’s the cheapest solution to store large data.

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