The creator of AngelList, Naval Ravikant, was very outspoken about his passion for Bitcoin and Ethereum. However these two main crypto currencies are not Ravikant’s only favorite virtual money; he still has almost the identical kind of passion for decentralized finance (DeFi).
Ravikant defined DeFi as “The beginning of the end for Wall Street”, as mentioned last month in his AMA talk on Twitter. He stated that “De-Fy” is stable, just like Silicon Valley’s most popular businesses such as Twitter and Uber.
As per him, “Decentralization” is potentially the next major investing idea for the next 10 years.
It makes complete sense, therefore, that DeFi is the latest frontier where one can enter and make big money soon.
Ravikant expressed this while answering to Nivi, Venture Capital’s co-inventor, who questioned several days ago:
“Back in the day, you could show up in SF, make a few good decisions, and end up rich and successful in 5-10 years. Now, what do you do?”
Ravikant is a huge investor of Uber, Twitter, Stack Overflow, Wanelo, and many other firms. He stated recently that, “Same as you always did – move to the frontier. The frontier is the place where the risk-takers have arrived, but the masses and the bureaucrats have not,”
He also claimed that at the present, that frontier is “probably DeFi,”
DeFi sector has now expanded from a small $675 million at the start of this year 2020 to over $20 billion in TVL.
Investor and developer Qiao Wang is of common opinion when he lays out the cryptocurrency frontiers: pre-2013 BTC, pre-2016 ETH, and pre-2021 DeFi.
DeFi tokens’ profits even perform better the main digital currency by an immense amount. AAVE (4,327 percent), YFI (2,138 percent), SNX (7,70 percent), Loopring (632 percent), and Bancor (482 percent) are some of the prominent big winners in the DeFi sector in 2020.