Naval, co-founder of renowned VC firm AngelList: Cryptocurrency is a technological path to replace fiat currency.

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Naval Ravikant, co-founder and former CEO of renowned Silicon Valley VC AngelList, wrote in an article on X that since 1971, the monetary system has shifted from "natural money (gold)" to "socialist money (fiat currency)," and that cryptocurrency is a technological path to replace fiat currency with free-market money. He stated that market systems are inherently competitive, and as technology evolves, new forms of currency will continue to emerge to challenge the existing system.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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