CRYPTO-CURRENCIES NEWS: Billionaire Michael Novograz: in 5 years the capitalization of the Crypto-currency will reach $ 5 trillion
Former head of the hedge fund Fortress Investment Group LLC Michael Novograss sure that by 2022 the market capitalization of digital currencies will reach $ 5 trillion. This is reported by Bitcoinist.
Billionaire Michael Novogradts, who is famous for keeping a tenth of his assets in the crypto currency, is convinced that the digital currency market has enormous potential. The investor compares the market of crypto-currencies with the Nasdaq-American stock exchange specializing in high-tech stocks.
"In 1999, Nasdaq achieved a capitalization of 5.4 trillion dollars, why can not it be that big?" Novograt said in a recent interview with Bloomberg.
Also, the investor expressed the opinion that there is no reason to doubt his hypothesis, because at the present time huge money and human capital are invested in the crypto industry. In addition, Novograz noted that the digital assets market is still at the earliest stage of development.
At the same time, Michael Novograts focused on the need to regulate the crypto-currency industry, because, in his opinion, this will in the future make it a significant segment of the financial market.
In October 2016, Novogradets told the UBS conference in New York that he had "good reserves of bitcoins."
"Put some money into the bitcoins ... Remember about them in a few years and you'll be surprised how they multiplied ," said Michael Novograz during his speech to the New York audience.
Earlier ForkLog reported that Professor of Economics at the University of Long Island Panos Mordukatas expressed the view that the price of bitcoin is far from its limiting value, and this means that "digital gold" will still make many people millionaires .
