Joe Krug, Pantera Capital: in the next phase of Bitcoin will rise in price by 10 times

0

Co-Director of a major investment Fund said that would happen to the market capitalization of cryptocurrencies exceeded $2 trillion

The value of the market for digital money in the next phase of growth will increase by 1000% relative to current values and will exceed $2 trillion, says co-Director on investments of the Fund Pantera Capital Joe Krug. In an interview with Bloomberg he said that the decline in the volatility of the cryptocurrency in the last time — the calm before the storm.

“If you talk about the next climb, I think the cryptocurrency industry can grow 10 times,” said Krug.

He added that the catalyst for the speculative growth can be large companies such as Fidelity Investments and the operator of the new York stock exchange Intercontinental Exchange (ICE). However, in order for the new investors came into the market, cryptocurrencies need better scale, because at the moment the level of development comparable to the Internet before the advent of Dial-Up connection.

Director Pantera Capital says that in the coming years, the blockchain network will learn to scale up to the levels of the payment systems Visa/Mastercard, but this does not mean that until then, digital money will only get cheaper. Krug is confident that the market has achieved a reliable minimum and will be in a narrow range until new growth catalyst.

Earlier in the network appeared information about the fact that from the beginning of 2018. the investment Fund Pantera Capital lost 72.7 per cent of assets. CEO Dan Morad repeatedly urged to buy bitcoin, he said that the first cryptocurrency “cries the buy” when its price was 25% higher than now, at $9000. The second time, in June, he again proposed to acquire the asset. Since then, the coin fell 10%.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.