Mike Novogratz: cryptocurrencies are the people's revolution

Mike Novogratz: cryptocurrencies are the people’s revolution


An investor-multimillionaire Mike Novogratz took part in the event of Fluidity Summit in Williamsburg, during that shared out with by guests by the ideas in relation to a present and future of cryptocurrencies. In particular, Novogratz named digital assets “folk revolution”, CoinDesk reports.

“We had a market craze a retail sphere stands at the head of that never before”, – an investor declared.

However, arrival of institutional investors became the main theme of performance of Novogratz on a cryptocurrencies after the enormous jump of prices at the end of the last year. Certainly, first of all an investor marked the joint project of his mercantile bank of Galaxy Digital and Bloomberg agency – Bloomberg Galaxy Crypto Index, watching the most liquid blockchain assets.

“I hope that this start will mark by itself beginning of institutionalize cryptocurrencies as a class of assets, as large problems need a large capital”, – Novogratz marked.

He is sure at the same time, that the greatest influence of cryptocurrencies will be noticeable at “street level”, where ordinary people take off an accommodation, ride on machines and pay to each other for the executed work.

“The decentralized revolution will render most influence on a retail sphere, but to attain it – investment power of large establishments is needed.”

Describing the recent meeting with the representatives of Deutsche Bank, New York exchange stock and Goldman Sachs, Novogratz declared about a confidence in that this process began already.

“It is superroutes on that it is needed to move all.”

Novogratz sure that one of this areas is computer science. According to an investor, together with the engineers he puts all efforts, thoroughly to study technology being the basis of cryptocurrency industry. So, two greatest technical complications now is scalability and compromise between speed and safety, Novogratz considers.

“We put on EOS, because people are attracted by its speed and comfort. We also put on Ethereum, because he has most developers. My intuition prompts: we do not need 100 blockchain”.

Secondly, an investor touched the economy of tokens, marking that “most interest present chinks” just. According to him, investors spare attention not enough new coin.

Widespread opinion consists in that if protocol does not create stimuli for the protracted storage of chinks, then their price goes down to the zero. Novogratz is not agree with it. As an example he brought the decentralized service over of search of fellow-travellers, in that and hitch-hikers, and drivers always will hold at itself the small amount of tokens as a speculative investment.

Speaking about institutional investors, Novogratz marked that a “herd had begun motion”, and added that “prayed every night, that taking place players went out to this market”.

These are three “superroutes”, on that already “trucks began” to ride, summarized the metaphor of Novogratz .

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