Hedge Vision's avatar
$125.6m follower assets
Bill Ackman Promotes... the Helium (HNT) Token?
Pretty surprising to see Ackman come out strong with a supporting voice for cryptocurrencies with an actual use case. From a thread he posted yesterday:

"Initially, I assumed that there is no intrinsic value to any of the tokens and therefore they simply represent a modern-day version of tulip mania without the aesthetic benefits. But after examining a number of interesting crypto projects, I began to understand how a token could build intrinsic value over time.

Two examples may help to explicate my view: @helium created a global Wi-Fi network used by @limebike and others to track devices globally as well as for other uses which benefit by access to global Wi-Fi networks.

Helium’s global network of 974k hotspots was crowd created by individuals who purchased and deployed Helium hotspots to mine HNT, its native token. Customers who wish to use the network must purchase HNT and burn it, ie, remove the ‘consumed’ HNT from its total supply of tokens.

As a result, over time, a two-sided market for HNT develops in which miners buy hotspots and deploy them around the globe to earn tokens. Users, in turn, purchase HNT tokens in order to use the network. The more demand for the network, the more demand for HNT."

Nick Garcia's avatar
We have a Helium hotspot (miner) here at our office that I set up. It's a pretty interesting one compared to the other cryptos I think.
Hedge Vision's avatar
@seasnar I thought about getting one when they were all the rage about a year ago, still seems like a neat electronic to have!
Nick Garcia's avatar
@hedgevision I had fun with it at first but I think we got ours a little too late, missed out on the hype. I still think it's neat technology though. Hoping they can continue to grow!
Young Money Capital's avatar
How does the price of helium compare to setting up a hot spot normally?
Rihard Jarc's avatar
Yeah I was surprised by this as well. Didn't expect it at all.

Author

Related