Sacks, a former PayPal executive, is also one of the key investors in Multicoin Capital. It is a firm that focuses on Solana and other crypto projects.
Sacks, who now co-hosts the popular business podcast All-In, has been a strong supporter of Solana for years.
David Sacks Sticks with Solana, Predicts Its Future Growth
In October 2021, he revealed that he had bought Solana at a discount, holding onto it as a long-term investment. Even when Solana’s price took a hit during the collapse of FTX, a major crypto exchange closely tied to Solana, Sacks didn’t give up on it.
In December 2023, during the All-In podcast, he proudly shared that his Solana holdings had grown with 92% annual returns, saying he was “still holding bags of Solana” and was “a very happy camper.” He was quick to clear the air, too, denying rumors that he had sold off his Solana stash, explaining that those claims were “not true.”
Sacks believes SOL could one day overtake Ethereum as the leading blockchain platform. In fact, back in 2021, he suggested that there were smart investors in Silicon Valley betting on Solana to eventually become the dominant platform. His bold statements about Solana’s potential to grow and compete with Ethereum show his confidence in its future.
Sacks’ Solana Support Could Shape U.S. Crypto Future
As Trump’s newly appointed “A.I. & Crypto Czar,” Sacks will play a key role in shaping the U.S. government’s approach to cryptocurrency and blockchain. His support of Solana could lead to even more attention and investment in the platform as the U.S. continues to explore the future of crypto.
Source: Truth Social Network
In short, Sacks is betting big on SOL and is confident that the blockchain has what it takes to challenge Ethereum. With his experience and influence in the tech world, he’s in the perfect position to help steer the future of cryptocurrency in the U.S.
Disclaimer
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