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Thursday, June 29, 2017

Bitcoin could reach $5 trillion in five years, predicts Novogratz

Bitcoin could reach $5 trillion in five years, predicts Novogratz

Famed investor Michael Novogratz, who recently said he has 10% of his money in Bitcoin and Ether, now states that digital currencies could reach a value of $5 trillion in five years — if the industry will be able to reach massive adoption.

“The Nasdaq got to $5.4 trillion in 1999, why couldn’t it be as big? There’s so much human capital and real money being poured into the space and we’re at the takeoff point. Pay your taxes, because nobody in that space pays taxes. It’s a bunch of libertarians. There really is a revolutionary spirit amongst the guys that are building this system.”

In order to obtain this value, companies will have to develop businesses and projects that are able to satisfy regulators, but right now bitcoin’s reputation is not going to the correct street as it is popularly perceived as a currency favored by black markets and hackers.

The cryptocurrency industry took a new reputational collapse a few days ago when a cyber attack spread around the world, disabling computers and demanding users pay $300 in cryptocurrency. Back in May, a similar thing happened with the WannaCry hack.

Full story at

Source: NewsBTC

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