Aren't you making a long term statement about being on a Bitcoin standard?
The high rate of return for Bitcoin itself is only applicable in the near term whereas the ecosystem grows exponentially with the asset through network effects.
Discussion
That’s fair … maybe there will be some venture investments once bitcoin is being as a unit of account for most ventures but the venture investments will be incremental, not moonshots. More akin to 1980s private equity rather than 2010s SF VC … also, bitcoin only companies won’t exist…there will be software / energy / finance companies that leverage bitcoin and its attributes BUT they will be investing in serving customers, not building out bitcoin.
We’re in this weird time where most of the bitcoin only VC money is coming from “whales" looking to accelerate bitcoin adoption. The appreciation of their bitcoin bags is the goal, not the returns of any individual company/portfolio/fund they’re investing in.