Thank you for your comment, Alex!
I can definitely understand your frustration when you get answers from investors like the one you mentioned.
I’m not sure that so much money, which otherwise could have been invested into startups, is going into bitcoin. It’s just a very different asset class, and most VCs are not even allowed to invest in currencies without changing their LPAs.
Also, I have a higher opinion of most of my fellow investors than the way you depict them, but I do agree that when the market is hot on certain topics/themes it can be very hard to raise money for things that aren’t hot. We’ve seen this before in several other categories like social/mobile or eCommerce (once hot, now not).