While many crypto veterans give out a wide range of bear market advice and strategies, some opt for a more straightforward approach—optimism. Being resilient and positive during this time is very important, according to Jeremy Almond, the CEO of Paystand, a business-to-business (B2B) payments fintech.
Almond told Cointelegraph that the best way to plan during the crypto winter for companies is having what he calls a “brutal understanding of the facts” and “relentless optimism for the future.” He explained that:
“As a company, you always want to be resilient in case of hard times but also optimistic about the world we are creating.”
The CEO expressed that companies get to be the ones to implement the vision. Because of that, Almond said that they need to be prepared, saying that the best companies are those who are resilient and enduring.
The Paystand executive also highlighted the data that shows that crypto will hit 1 billion users in the coming years. According to Almond, crypto is here to stay, and the companies who stay focused will emerge from the bear market with better products and services. Comparing the crypto winter to the dot-com crash, the CEO explained that:
“The companies that survived, thrived and grew were ones that built real products and services but were part of a larger movement that was a change in our business and society.”
Almond highlighted that it’s a lot better for companies to focus on creating value for their customers instead of constantly worrying about the prices of a coin.
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When asked about the layoffs that the industry witnessed recently, the Paystand CEO commented that the industry needs more companies that developers can work for. This is so that the developers can use their creativity to benefit society. The executive noted that those who are making the most impact will naturally attract talent. He explained that:
“In this market, the best developers will go to the best companies that are making the most real-world impact on business and consumers.”
Lastly, the CEO encouraged those who are feeling pessimistic during the bear market to zoom out. “When I started, there was no industry at all. There were just a handful of enthusiasts,” said Almond. He urged the community to look at the progress that the blockchain industry has made in the last 10 years and the many products that are being built, like decentralized finance (DeFi) and nonfungible tokens (NFTs).