Wednesday, December 8, 2021
Home Crypto News Market Bedrock Capital Co-Founder Compares Shiba Inu To Tesla Competitor Rivian Saying Both...

Bedrock Capital Co-Founder Compares Shiba Inu To Tesla Competitor Rivian Saying Both Have Achieved Large Market Caps Without Doing Anything Valuable

- Advertisement -

Geoff Lewis, co-founder and managing partner of venture capital firm Bedrock Capital, compared Shiba Inu and the electric car maker Rivian.

According to Geoff Lewis, the leading comparison between Shiba Inu and Rivian are that they achieved enormous capitalization without doing anything valuable. The capitalization of SHIB is growing simply on the hype, and the capitalization of Rivian has exceeded $ 100 billion, although the manufacturer is only setting up the release of its first commercial product, RITs.

Rivian Automotive held an IPO on Nasdaq and became the largest US company of the past 9 years. Rivian share price is $123 per share, and the company’s capitalization reached $104 billion, which is more than most car manufacturers in the world.

The most interesting thing is that Rivian has not yet begun the mass production of electric vehicles. Since the start of production, only 56 R1T pickups have been assembled, and the company has not even started production of the R1S SUV yet.


Lewis said:

“Rivian and Shiba Inu are more alike than they are different. Symptoms of an inverted economy where abstract narratives of the future supersede economic reality today.”

Recall that at the end of October the capitalization of Shiba Inu reached as high as $50 billion, Since then, the SHIB has lost almost half of its capitalization and now the figure stands at $28 billion. Former NSA agent Edward Snowden also warned about investing in SHIB.


- Advertisement -
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Floki Inu To Be Seen At Least 210 Million Times After Floki New Partnership With Russian Most Famous Football Club

 Floki Inu announced a partnership with the Russian most famous Football club "Spartak-Moscow." window.coinzilla_display = window.coinzilla_display ||...

Dogecoin Entered Top 5 Most Searched Google News Queries of 2021

Dogecoin (DOGE) ranked fourth in the list of the most searched Google searches worldwide in the News category in 2021. trends.embed.renderTopChartsWidget("12671d45-ca76-450b-9ced-14f27b4587b4", {"geo":"GLOBAL","guestPath":""}, 2021);...

New Order Announces $NEWO Token Sale Through Dutch Auction On MISO

Toronto, Canada, 8th December, 2021, New Order, a community-driven venture DAO incubator for decentralized financial (DeFi) projects, announced the public sale of its governance...

Billionaire And Former Google CEO, Eric Schmidt Becomes Chainlink Strategic Advisor

Former Google CEO and Billionaire, Eric Schmidt has joined oracle provider Chainlink Labs as a strategic advisor. ...

Shiba Inu Games Became Partners With Australian Playside Studios

Playside Studios (PLY) shares price jumped more than 4% to $0.83 after Australia’s largest publicly listed video games developer entered into a material fixed...

Visa Is Launching An Advisory Practice That Will Help Further Mainstream Adoption Of Bitcoin And Other Digital Assets

Payment giant Visa has announced the launch of a new advisory division to help clients navigate the cryptocurrencies world reported by CNBC.

10% Of Americans Plan To Give Crypto On Christmas As Gift With Bitcoin #1 Choice For Holiday Gifting

Almost every tenth citizen of the United States is ready to give cryptocurrencies as a gift for the New Year, and every fourth is...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.