Santiago Roel Santos, founder and CEO of crypto investment company Inversion Capital, said cryptocurrencies are not subject to positive network effects, but other experts disagree.
In a recent Substack post, Santos wrote that “crypto is priced for network effects it doesn’t have.” He also pointed to the network effect valuation system, Metcalfe’s Law, saying that it “doesn’t justify crypto’s valuation” and instead “exposes it.”
Santos claimed that many of crypto’s network…
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