The document discusses the current state of the cryptocurrency market following the FTX collapse, highlighting that many NFT collections have lost value. It draws parallels between the struggles of the crypto industry and Apple's near bankruptcy before its resurgence, suggesting that technological innovation and a return to the original purpose of cryptocurrencies are essential for recovery. The author emphasizes the need for technological leaders in the crypto space and warns against those only seeking profit without adding value.

1. By: www.ProfitableInvestingTips.com

2. Crypto is in the doldrums. A Bloomberg Crypto
article about the year after the FTX blowup
paints a sad picture. A lot of people lost a lot of
money during crypto winter. However, market
crashes happen. Strong industries and strong
companies recover and resume growth. The
momentum for crypto seems to be going the
other way.

3. Roughly 19 out of 20 of more than 70,000 NFT
collections are pretty much worthless. A
lukewarm future is about the best that many
see for crypto. We are reminded of Apple when
it was so desperate that it accepted a $150
million bailout from Bill Gates and archrival
Microsoft. Today we see Apple as the model
for crypto’s future.

4. From Near Bankruptcy to Being a $2.5 Trillion
Company

5. Years ago Business Insider published the Apple
comeback story. This was long before Apple
became a trillion dollar company. The story has
to do with Steve Jobs. Jobs and Wozniak
founded Apple and created the personal
computer. After several years Jobs was forced
out of Apple. Subsequently the company faded
and found itself on the verge of bankruptcy.
They brought Jobs back.

6. The company had lost the creative and
technological spark that initially made it great.
When Steve Jobs came back the company
created the iPod, the iPad, the iPhone, the
Apple store, iTunes and turned cell phones into
essential personal devices. Some may see this
as a series of new inventions and products. We
see it as a return to the original purpose of
Apple. We think there is a lesson here that
crypto can learn from.

8. What Was Crypto’s Original Purpose?

9. The first cryptocurrency was Bitcoin. The
Financial Crisis inspired its creation in 2009. A
system anchored in blockchain technology
would allow for peer to peer money transfers
without middlemen. This sort of decentralized
system would provide a degree of financial
privacy as well. Nobody at a bank could see
what you were doing. Just like when Apple
invented the personal computer, Bitcoin was a
fresh idea that had a lot of value.

10. Apple got in trouble because it kicked out the guy
who understood the basic idea behind the
personal computer and brought in business
people interested only in milking profit out of
the company. A similar thing happened in
crypto as the dollar value of Bitcoin and other
cryptocurrencies skyrocketed. While many
crypto businesses devoted themselves to
finding bona fide uses of crypto, others only
sought to milk the system in order to get rich.

11. Don’t Be Too Proud to Accept Help

12. Rather than remaining apart from the traditional
financial system, crypto and especially
decentralized finance are going to become part
of the bigger financial picture. Some in the
crypto world are concerned that traditional
financial entities are moving into the crypto
realm. But these folks are also bringing
experience and expertise that was too often
sadly lacking in many of the crypto businesses
that went under during crypto winter.

13. When Steve Jobs came back to Apple he
swallowed his pride and accepted a $150
million loan from his archrival Bill Gates and
Microsoft. Microsoft got preferred shares of
stock which they later sold for a handsome
profit. The financial lifeline from Microsoft
allowed Jobs and Apple to start a creative
streak virtually unparalleled in tech history.

14. Let Technology Innovators Lead

15. Another lesson for the crypto world from the
Apple story is that the folks in charge need to
be those with technological savvy and not
those who are jumping in when they see the
chance to make a lot of money. The invention
of the smart contract for decentralized finance
adds value to the crypto world.

16. So will governmental digital currencies. Our
opinion is that when people come into the
system solely to suck out profits it will fail.
When folks invent useful and exciting things in
the crypto world they will be following the
example of Apple’s recovery and further
growth.

17. For more insights and useful information about
investments and investing, visit
www.ProfitableInvestingTips.com.