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Alex Sunnarborg, co-founder of Tetras Capital, a NYC based crypto HF with ~$30m in AUM, is not convinced by this week's 20%+ crypto rally. While skeptical on prices, he is paying most attention to Grin (the latest non pre-mined privacy coin), the Fidelity crypto platform roll out in March, and more penalties from the SEC to rain down on past ICOs.
Forbes: What other factors do you look at? Sunnarborg: Another huge thing for me is the security. So, things like that recent Ethereum Classic 51% attack (when users attacked the blockchain with computing power to spend the same coins twice, undermining the primary function of the blockchain). These blockchains where it’s possible to rewrite the blockchain for not that much money relative to how much you could make by double-spending—those are immediately not attractive. Unfortunately, in the crypto space, security and price are generally very correlated. So, as the price of ether falls, it gets less secure.
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