Price Now

${{ }}


${{ data.btc.short.price }}


${{ data.btc.long.price }}

Michael Novogratz: Cryptocurrencies still Require Several Years to be Adopted

2018-07-20 10:32:08

#Cryptocurrency #Investment #Technology
Michael Novogratz: Cryptocurrencies still Require Several Years to be Adopted

Former Wall Street top manager and CEO of Galaxy Digital Capital Management Michael Novogratz considers that mass adoption of cryptocurrencies and blockchain technology will happen in five – six years.

Visiting the South Korean Beyond Blocks conference Novogratz expressed confidence that in a couple years ahead many companies and organizations will enter the crypto industry. Without this the industry will stagnate.

“You won’t see mass adoption until the user experience does not feel like something new and that is still five to six years away.”

Novogratz recognizes ever increasing value of blockchain specialists and uncertainty of traditional investors as main impediments for development of the industry.

“Think about how institutional investors operate. It’s hard to tell your boss ‘I have money in places you have never heard of.’ You need a trusted, name custodian — a Japanese bank or HSBC or ICE or Goldman Sachs — to allow institutional investors to feel comfortable.”

The banker noted the importance of cryptocurrency regulation. In particular he was satisfied with the work of the U.S. Securities and Exchange Commission aimed on prosecution of scammers and market fraud.

Also, Michael Novogratz considers that blockchain adoption for everyday people should be speeded up by making the technology more transparent. Thereat, it is not necessary to know the details of how the technology works.

Novogratz supports cryptocurrencies and believes that the technology is the people’s revolution. Previously he encouraged every investor to keep at least 1-2% in cryptocurrency in their portfolios.


CoinForecast News

Please enter your email

Latest News

Tuur Demeester: Bitcoin will not Set New Records this Year

Though Bitcoin already reached the bottom, it does not mean that the cryptocurrency will set a new historical maximum this year, - says trader and eco...

  2 weeks ago

Research: Investments in Blockchain Increased Significantly in the USA

In accordance with the Pulse of Fintech report by the Dutch audit giant KPMG, investments in American blockchain companies for the last six months of...

  2 weeks ago

Mike Arrington: Bitcoin will Reach $25000 by the End of the Year

Mike Arrington, Fouder and CEO of Arrington XRP Capital stands with Tom Lee in the Bitcoin price forecast. According to his version, Bitcoin will pul...

  3 weeks ago

Bitcoin Price: Pulling Up Again?

In accordance with the latest data from CoinMarketCap, the price of Bitcoin increased by 10% from the beginning of the week and currently makes $8,180...

  3 weeks ago

eToro Analyst: Bitcoin on the Brink of Largest Rally in History

Mati Greenspan, Senior Market Analyst at eToro says that Bitcoin is preparing to a huge leap in price. The cryptocurrency leader began the week with a...

  4 weeks ago