Jason Fang, founder of cryptocurrency investment firm Sora Ventures, recently shared his insights on the crypto market and Bitcoin’s potential. Fang highlighted the rapid growth of DeFi and NFTs, despite initial skepticism, and believes Bitcoin development is progressing faster than many realize.Recalling the past bear markets, Fang described how the Bitcoin price plunged and his fund dropped 80%, while many other crypto funds folded. Despite this setback, Fang persevered and Sora emerged in a strong position coming out of the bear market years.In 2023, Sora has pivoted to focus heavily on Bitcoin investments, becoming the most active institutional investor in Bitcoin startups year to date. Fang believes Bitcoin’s price could easily explode from today’s levels as utility expands and encourages visionaries to get involved early and build the next generation of Bitcoin applications.Fang sees Bitcoin at over $200,000 achieved through increased on-chain utility, and expects to see expanded utility built on top of Bitcoin, such as BRC-20 tokens and decentralized finance and NFT use cases. He believes the first major BRC-20 project successfully launched and listed on top exchanges would spark tremendous interest and further development.

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Information	Details
Geography	Asia
Countries
Sentiment	positive
Relevance Score	8
People	Jason Fang, Fenbushi Capital, Vitalik Buterin
Companies	Bitcoin Startup Lab, Sora Ventures, Fenbushi Capital, Ethereum, Bitcoin Magazine
Currencies	Avalanche, Solana, MEME, Ethereum, Bitcoin
Securities	None