Topic: Mike Novogratz: Institutions Will Get Into Bitcoin in Q1-Q2 2019 Bringing ‘New H (Read 162 times)

The phase is changing today and people want more of the price to go up instead of the feature itself of being a decentralized currency. And to have that goal able to reach, it needs the help of those institutions to get into bitcoin.

Adoption can't be stopped and on their end, they can't stop bitcoin so they don't have any choice but to ride and adopt it.

Listening to fake gurus like Mike Novogratz is always a wrong decision.
However,I don't understand something:
50% of the people here say they want the banks and hedge funds to adopt crypto and help for the price to reach a new ATH.
The other 50% of the people say "bitcoin is anti-bank,f*ck the bankers,f*ck the big corporations".
Is this some kind of collective madness.

This is a big step!

˝Fidelity Investments, a financial services giant with over $7 trillion worth of assets under its management, has launched a company called Fidelity Digital Asset Services, which will be providing custody and trade execution services for cryptocurrencies. ˝

https://coincodex.com/article/2488/fidelity-investments-launches-crypto-focused-company/

If institutions get into crypto market, it's no wonder that market will see a new high, it will also create a significant challenge to the retail consumers. There are pros and cons of this move. Lets look at those,

Pros:
1. Significant amounts will be pushed into the market, pushing the demand and price higher
2. A large number of bitcoins will be taken out of the circulation
3. Mainstream adoption rate will be increased as new players will come in to market
4. Research and development spend on blockchain and crypto will increase

Cons:
1. When a single institution will hold a significant amount of money into a single asset, they will have controlling interest in the market and the volume will work at their favor. The price manipulation shit can just become real!
2. A decentralized currency will slowly start becoming a centralized one when too much controlling power remains on a single hand, so the free market rule may not affect the market. That possess a significant challenge to the retail consumers and traders!

I am not actually against the adoption by institutions because we need to create our lobby stronger and institutions can actually help in achieving that when they will have vested interest in this field. But the interest of retail consumers should not go haywire because of the big money corporate!

If the launch of the Fidelity Digital Asset Services is succesful and it's able to attract financial institutions into getting involved with Bitcoin and other cryptocurrencies in the short-term, then I could definitely see this being the trigger that the market needed to start a new organic BTC rally next year with institutions pouring tons of capital into the cryptosphere. We've been lacking some kind of news or event that could push the price up by attracting new capital and investors, I think this could be it.

Btw, I'm surprised that this guy isn't so optimistic about seeing 10k this year, most of the time you read about these kind of investors always predicting 10k or above towards the end of year.

no wonder to that novogratz is always been positive and bullish on this technology, and i admire him for that considering the fact that there are now big institution jumping into crypto, and the ongoing upgrade of bitcoin scalability, we will be caught surprise soon regarding on development such as lightning network etc.

Mike Novogratz: Institutions Will Get Into Bitcoin in Q1-Q2 2019 Bringing ‘New Highs’

The next six months will see a Bitcoin investment push after a delay…

Read more:
https://www.trackcoinmarket.com/en/crypto-news/33775/mike-novogratz-institutions-bitcoin-q1-q2-2019-bringing-new-highs