Dragonfly Capital partner says crypto speculation was driven by expectations that proved right

Haseeb Qureshi, managing partner at crypto venture firm Dragonfly Capital, said the expectations that fueled past waves of crypto speculation ultimately proved correct. Qureshi said no financial revolution in history had occurred without speculative manias. Similar waves of speculation have appeared repeatedly in crypto markets and are now also unfolding in artificial intelligence, Qureshi said. The key to understanding speculation is human behavior, according to Qureshi, as people tend to believe in a vision of the future and pull that vision forward into the present. He added that the expectations behind past crypto bubbles — that crypto would take over the world, spread like wildfire and grow far beyond what anyone imagined at the time — were all right.