Mike Novogratz: capitalization of the stock market will reach $ 20 trillion

Investor and co-founder of Galaxy Digital Mike Novogratz, the day before yesterday saidthat after 15 years cryptocurrencies will create a “Internet 3.0”, most of the databases which will run on the blockchain. Now an analyst has predicted the growth of the market capitalization of cryptocurrencies to 20 trillion dollars. His words leads CCN.

When I grow up cryptocurrency expert opinion

According to Novogratz, while the market of digital money has no signs of a bubble. Record growth at the end of December last year, the investor compares with the state of the IT market in 1996. It was three years before the collapse of the dot-com bubble.

The correction that is happening now in the market of digital assets, end in the second half of 2018. After that the coins will establish new records value and market capitalization will grow 20 — fold to $ 20 trillion. Co-founder of Galaxy Digital sure.

The dot-com bubble inflated rich Americans to such an extent that in 1999 it burst, and the capitalization of the IT market fell from 6 to 1 trillion dollars. With bitcoin this will not happen — it is global. Coins buy children in Bangladesh, they are in Tokyo, South Korea, Russia, India and China.

Novogratz added that the only reason for the growth of market — regulation and the arrival at it of institutional investors. However, this will happen at best in the medium term — while the owners of large investment firms and hedge funds only demonstrated interest in digital assets, he said.

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