Barry Silbert: 99.9% of Cryptocurrencies Are Useless — I Should’ve Just Held Bitcoin

Digital Currency Group founder Barry Silbert says almost all crypto is meaningless. In hindsight, he regrets not just holding BTC.

Barry Silbert, founder of Digital Currency Group and one of the earliest bitcoin investors, said that 99.9% of cryptocurrencies are useless. Speaking on a podcast with economist Raoul Pal, Silbert reflected on his 13 years in the crypto space:

“In the 13 years since I first bought bitcoin, I’ve seen a lot. I believe 99.9% of cryptocurrencies are meaningless.”

He recalled buying BTC in 2011 at $7–8 and later investing in crypto startups, including Coinbase and Ripple:

“It seemed cool to invest in Coinbase. But if I had just held bitcoin, I would’ve made far more money.”

While he still follows new projects with interest, he admits his bar for excitement is now very high.

Silbert also voiced support for privacy coins, despite their recent decline:

“People will realize financial privacy matters. There’s a version of bitcoin that’s private,” he added, referring to projects like Zcash.