In the next 10 years at least one cryptocurrency will reach global acceptance and it can be bitcoin, Reid Hoffman, a venture capitalist, a co-founder of LinkedIn social network and an early Facebook investor, told Fortune.

Citing his recent deal with Xapo, Hoffman explained that he believes in the global acceptance of one or more cryptocurrencies in the next 10 years, either bitcoin or bitcoin-based. Hoffman chose Xapo as a standard bitcoin business. His other cryptocurrency industry investment, in Blockstream, aims to promote bitcoin and “making it be possible”.

He stressed that he was not interested in bitcoin’s current price but rather in the openness of the digital currency:

Hoffman is currently running a series of events in Silicon Valley called Communities in order to promote professional networking. He highlighted that investors have to be very selective as the system has grown significantly. The main principle of choosing a start-up to invest in is the scale of transformation it can potentially offer.

Xapo is a bitcoin company that provides bank cards nominated in bitcoin. In the summer of 2014, a group of experienced entrepreneurs, including PayPal co-founder Max Levchin, invested $20 million in Xapo. Originally it was based in Palo Alto, California, but moved its headquarters to Switzerland in May of 2015 keeping a small office in the U.S. to work with American customers. 

Blockstream is a team of developers who drive innovation in the industry of open assets and smart contracts implemented into the blockchain. Last month, the start-up announced the release of Sidechain elements, distributed networks that extend bitcoin functionality. Sidechains are interoperable with each other and with bitcoin and can be used to develop applications based on the ledger technology.

Aliona Chapel