Blockchain Bull Mike Novogratz Predicts Institutional Money to Flood Crypto Space

Mike Novogratz Predicts Institutional Money Will Flood the Crpyo Space

Former hedge fund manager on Wall Street Mike Novogratz has once again predicted that institutional investors will one day flood the crypto markets. However, he added that it would not happen until there was solid regulation in place.

The Market Cap Will Hit Trillions Of Dollars One Day

While at the Beyond Blocks Summit Seoul, Mike said that he had confidence trillions of dollars will one day flow into the crypto markets. However, external factors would affect how soon that happened. He said that large institutional investors would not come on board unless there were regulatory safeguards in place.

Novogratz was echoing his previous prediction that crypto would one day achieve a market cap of trillions of dollars. When it did happen, it would transform crypto into something unrecognizable from what it is. However, there would need to be the creation of an online custodial service that is more secure than what exists today.

He gave the example of someone who was investing for the entire state of Wisconsin. If that kind of money vanished, you would be in real trouble almost immediately. Thus, the custodial service would not just need to be secure; it would need to be guaranteed secure. He was also adamant that there needed to be regulatory clarity. The clarity needed to come from the US since the US was in charge of the international banking system.

This is part of why his company has invested in all parts of the ecosystem. The company is experiencing growth with 75 people in its New York office. It plans to open other locations in Tokyo and Hong Kong soon.

98% Of Crypto Investors Are Retail Investors

Retail investors, who make up 98% of total investors, dominate the crypto market. However, this is freaking out the US regulators and others in the world. At first, the authorities appeared to be stepping on the little guys. However, things have since improved. This is particularly so when the SEC decided that Ethereum was not a security. It showed that the US authorities have shown a willingness to work with projects to ensure they comply.

Novogratz noted that regulators were engaged, which was what they needed to be doing. For instance, he gave the example of Japan. When Mt. Gox went down, the authorities were quite embarrassed. However, they acted fast and they were quite smart. Korea also listened to the masses and backed down from a proposal to ban crypto.

The Millennials’ Revolution

Novogratz has described crypto as a millennials’ revolution. The participants of this revolution are motivated to decentralize and create a new world order. When pressed on which projects he loved, he said that he was not smart enough to choose one.

He said no one could really pick a favorite. Right now, there were hundreds of projects trying one thing at the same time. All of them are competing for resources such as engineering talent. One of the projects he said was worth looking at was the Telegram ICO. It already had a $2 billion war chest and over 210 million users.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Kraken Exchange Onboards Swiss Bank InCore to Help Euro Clients Buy Crypto With Fiat

Swiss Bank InCore has just become the first banking institution in the nation to provide banking services to Kraken crypto exchange. The deal, which was...

Bank Of Japan (BoJ) Launches ‘Technical' Study to Experimenting CBDCs

The race to launch a sovereign digital currency is heating up as Japan became the latest country to venture into a central bank digital...

This Top Coin, Being the Worst Performer of 2020, Is A Disappointment to the Crypto Market

The fourth-largest cryptocurrency by market cap is currently trading at $0.176 in green by 1.66%, like the majority of the market. With 8.61% losses In...

Cryptocurrency Payment Processor BitPay Finally Announces Support for SegWit

Bitpay, the crypto payment processing giant, has finally integrated the segregated witness (SegWit) protocol, a second layer scalable solution to make bitcoin processing cheaper....

Crypto Hardware Wallet Ledger: ‘Funds are Safe' After ‘BigSpender' Vulnerability Found

A vulnerability was recently discovered by ZenGo in popular cryptocurrency wallets Ledger, Edge, and BRD. Named BigSpender, the vulnerability could lead to a double-spend...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today