Hyperloop One Co-Founder Shervin Pishevar Talks about Bitcoin

When we speak of venture capitalists, angel investors, and tech innovation entrepreneurs, we cannot fail to mention Shervin Pishevar. Who is Shervin Pishevar? He is an American-Iranian entrepreneur, and a renowned name in Silicon Valley, California. He is the co-founder of Sherpa Capital and Virgin Hyperloop One. He has also invested in numerous companies, including Uber and Airbnb.

On February 2018, he brought the crowds to his timeline on Twitter, where he expressed his views on tech innovation, globalization, and the future of the US economy in 21 hour-long tweets. One of the most pressing issues that he addressed concerned cryptocurrencies, particularly Bitcoin.

Shervin Pishevar notes that the stock market is plummeting, and the level of inflation is constantly rising. This will lead to gold rising in value. In addition, Bitcoin will experience a steady incline, but it will have to sink first. He put this clearly in his tweet by saying that “Era of cheap money is dead. Inflation spreading, stock markets crashing, underemployment hardening into systemic economic stasis.” He goes on further to state “Gold will rise in response. Bitcoin will continue to crash but stabilize at 2-5k range and begin a more stable rise over next 24 mo’s.”

The sentiments by Shervin Pishevar have had a significant impact on some businesses and investors. They are trying to make some changes. Pishevar is in full support of this cryptocurrency. Bitcoin is a currency that will be free from centralized banks, and it will be used by anybody and every country to transact. It will help to enhance the way of business as well as promote globalization. Shervin went further to show his support of cryptocurrencies by tweeting “Founders are stateless, boundary-less capable of raising capital from completely new financial instruments like cryptocurrencies.”

Ever since Bitcoin was launched, it has created so much curiosity in the peoples’ minds, and slowly by slowly learning about it. This is proven by his tweet “All institutions, government + financial, are facing a reckoning of irrelevance when it comes to what is a once in 1000 year shift coming.” He then goes on to say “That shift has to do with a revolution in stateless digital currencies unleashed across the globe over next couple decades.”

Devco and the Heldrich Hotel

The private nonprofit company DEVCO is based out of New Jersey and has made one of the largest investments, over $1.6 billion, into the economic growth of the city of New Brunswick. Founded in the mid 1970’s, the New Brunswick Development Corporation has had its hand in several projects including several government, residential and educational buildings. Most recently they are working on the College Avenue Redevelopment Initiative. Since it was created to company has won over twenty awards for their designs. Devco believes that the reason for its success due to its partnerships with both private and public domains, spreading out its projects across different sectors and making alliances with many businesses.

Earlier this year, the Press Atlantic City reported that the New Brunswick Development Corporation is under scrutiny after working with the Middlesex County Improvement Authority, who has been neglecting to pay the $1 million principal on a $20 million loan. The loan was given over a decade ago in 2005 to renovate the Heldrich Hotel. Devco’s attorney Christopher Paladino went on the record saying that the loan,”will be paid, but it’s just going to take a couple more years.” Increased income from the refurbished hotel was supposed to help with payments but the Heldrich has been less popular than many had hoped.

The New Brunswick Development Corporation has been working to solve the problem as they wait for more funds. Many of the bonds used to pay for the Heldrich have been repaid with interest, but subordinate bondholders haven’t seen any payments. To try and increase income Devco is teaming up with the Atlantic County Improvement Authority to work on a new project, the Stockton University satellite campus. Their hope is to make revenue from sale of tax credits and other college expenses. Devco reviewed financing for the project and is positive that it will not face the same crisis.

 

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