Yahoo Finance Former E&Y blockchain big hitter quits overcrowded crypto space
The brilliantly named Angus Champion de Crespigny spent more than a decade at Big Four accounting firm Ernest and Young, focusing on blockchain during his last couple of years there. In 2018, he left the company to focus on other projects, stating that he was disillusioned with the blockchain space. And now he is no longer working in the Bitcoin/crypto industry, having taken a new role outside of it. Champion de Crespigny made the announcement on Twitter. Some news: I am no longer working full time in the bitcoin/cryptocurrency industry, and have taken a role outside it. I’ve had a number of people ask why, or seem surprised, so I thought I’d lay out my rationale in case it is of
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The brilliantly named Angus Champion de Crespigny spent more than a decade at Big Four accounting firm Ernest and Young, focusing on blockchain during his last couple of years there. In 2018, he left the company to focus on other projects, stating that he was disillusioned with the blockchain space.
And now he is no longer working in the Bitcoin/crypto industry, having taken a new role outside of it. Champion de Crespigny made the announcement on Twitter.
Some news: I am no longer working full time in the bitcoin/cryptocurrency industry, and have taken a role outside it. I’ve had a number of people ask why, or seem surprised, so I thought I’d lay out my rationale in case it is of interest to others.
— Angus Champion de Crespigny (@anguschampion) April 19, 2019
Whilst there are “some fantastic companies making great strides with Bitcoin adoption in the institutional and consumer space”, the market has become overcrowded. “You also can’t rush people to believe that something has value.”
He added: “I have believed for the past few years that there would be a ‘great cleansing’, where over a period of a year or two, people would slowly withdraw from all the useless blockchain projects going on. I’m losing confidence the market will become rational any time soon.”
He stressed, however, that he was not saying bye bye to Bitcoin. “I’ll always be involved in one way or another.”
And he maintains his belief that the cryptocurrency can radically transform the world. Just don’t place your bets on that happening any time soon.
I’m as confident in Bitcoin’s ability to radically transform the world as I ever have been. However I believe the time horizon to do that is very long, and I believe my best bet in the industry is to simply buy and hold.
— Angus Champion de Crespigny (@anguschampion) April 19, 2019
The post Former E&Y blockchain big hitter quits overcrowded crypto space appeared first on Coin Rivet.
