Bitcoin, Crypto currency, Blockchain

Michael Novogratz: market capitalisation will rise to 20 trillion dollars

247a20cf483b73c4fce66c719ca8af8f - Michael Novogratz: market capitalisation will rise to 20 trillion dollars

The billionaire Michael Novogratz is an early Supporter of the Bitcoin movement, and has for its optimistic forecasts in the crypto community a name. At an event in New York at the beginning of June of this year, he said that the market capitalisation must rise to 20 trillion dollars before we can speak of a real crypto currency bubble.

Mike Novogratz, among other things, the founder of Galaxy Digital, describes in an Interview at the Bloomberg Summit Invest in New York that the world of crypto-currencies at the very beginning of their development, and only at a market capitalization of $ 20 trillion of a bubble spoken should be (freely translated):

Crypto-currencies and the block chain technology is a global Revolution. The Internet bubble was only one thing in the United States. It was rich, US people who took part. Crypto-currencies have global impact. There are children in Bangladesh, buy coins. It is huge in Tokyo, in South Korea, in China, in India and in Russia. We have a global market and a global madness. This will feel like a bubble, if we reach 20 trillion dollars.

As we already reported, there are many company make all the preparations in order to facilitate institutional investors to get started in the crypto currency market.

The following factors, financial a hard time keeping from the weights, as before, by entering the crypto market:

  • Safety concerns regarding the storage and safekeeping of the capital
  • Inadequate Regulatory Requirements
  • Secure purchase guaranteed on-exchange liability in full

The largest stock market in the United States, Nasdaq stated a few months ago, that Bitcoin and Ethereum could soon be traded, if regulations are introduced and the market is “ripe” for it.

Coinbase, a collaboration with the SEC, developed with Coinbase Custody a Service to cryptographic standards currencies, according to the highest security to be able to store. Furthermore, it was created with Coinbase Prime an environment that is designed to meet the needs of institutional investors, tailored.

Furthermore, Ledger, Nomura and Global Advisors have joined together to develop a stock exchange, with the name Komainu, which is only permitted for large investors such as institutional investors. In order to comply with the increasing demand.

All of these developments are, of course, is no guarantee for new capital and rising prices, but there are good indications that a large number of institutions with large amounts of Capital to get easier access to the crypto market.

Novogratz takes, however, that this increase will not happen immediately, but a slow process is translated, will take place (free):

It will not immediately go there [to 20 trillion dollars]. What will happen is one of these intrepid pension Fund, someone who is a leader will say, you know what? We have a safe storage place, Goldman Sachs is also involved, Bloomberg has an Index, I can track my Performance, and they will buy. And suddenly, the second man buys. The same FOMO [fear-of-missing-out, afraid to miss a Chance to], you have in retail, seen [is being led by institutional investors].

We are optimistic and hope that the current sideways movement of the crypto market can soon be overcome.

The following Video shows the complete conversation with Mr Novogratz.

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