Bitcoin Market Cap Will Reach $10 trillion in a Few Years, Says FD7 Managing Partner

2021-3-11 19:39

Managing Partner of Dubai-based crypto investment fund FD7 Ventures, Prakash Chand, said that Bitcoin’s (BTC) market cap would reach $10 trillion in a few years. He believes Ethereum (ETH), Cardano (ADA), and Polkadot (DOT) will follow suit.

Just not Bitcoin, Chand said he believes more people will be including cryptocurrencies in their portfolios over the next two years. This would naturally raise all cryptocurrencies’ market cap, the Managing Director of the $1 billion fund added. 

“The new generation of retail investors who got burned on Robinhood will turn to the cryptocurrency markets, Chand explained. “We will see a lot of stimulus checks invested in the crypto market over the stock market,” he prophesied.

Altcoins Could Overtake BTC

Chand said it would be difficult for ETH, DOT, and ADA to beat out BTC in terms of market cap in the near term. However, he said that he does not look at short-term prices for these tokens. He thinks within 5-7 years, BTC could be worth ten times its current price. According to him, this could be dwarfed by ETH, DOT, and ADA. He thinks they have the potential to rise 20-30 times their current price.

A BTC holder himself since 2011, Chand said he believes Bitcoin is “a great store of value, with an excellent brand name behind it.” But his praise stops there. He expressed a similar sentiment earlier, calling Bitcoin “actually pretty useless,” apart from the aforementioned features. “Cardano, Ethereum, and Polkadot, on the other hand, are platforms that are disrupting Education, Finance, Healthcare and many other industries,” Chand argued.

Influential Interest in ADA & DOT

The FD7 Managing Directors said that his interest in the altcoins came from many conversations with a friend and mentor. Although Chand did not name him, this friend and mentor is one of the founders of Ethereum. Chand said he “is one of the smartest human beings living today. Listening to him is what prompted me to spend hours researching Cardano and Polkadot.”

Chand says the fund had several high-net-worth individuals and institutions approach them about Cardano and Polkadot just in the past week. The $1 billion fund earlier announced that it would sell $750 million in bitcoin to buy more ADA and DOT.  So far, the fund confirms to have converted $380 of funds to ADA.

The post Bitcoin Market Cap Will Reach $10 trillion in a Few Years, Says FD7 Managing Partner appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

years bitcoin cryptocurrencies managing cap market two

Источник: beincrypto.com

years bitcoin → Результатов: 126


How to earn free bitcoins in 2019

Bitcoin has become a reality in today’s world. For the longest time, governments and institutions brushed Bitcoin and the cryptocurrency market aside by calling it a bubble, a fad and whatnot. But over the years, Bitcoin has stood its ground and proved that it is here to stay while amassing a large community onto its The post How to earn free bitcoins in 2019 appeared first on ItsBlockchain.

2019-2-17 09:37


Optimal Bitcoin Investment And Crypto Trading Strategies During The Bearish Blockchain Battlefront

It has been ten years since cryptocurrencies originally emerged, and these days, there are those who believe that their time has already passed. Skeptics have been calling Bitcoin and every altcoin that followed a bubble for years now, although they gained a lot more confidence since the market crash of early 2018. However, while the […]

2019-2-17 09:21


Bitcoin Use Increased by 571% in the Past 5 Years and 13% of Online Buyers Have Used Cryptocurrencies, Coinmap and Kaspersky Reveal

The use of cryptos and blockchain technologies has proved to be an unstoppable phenomenon, and despite the bearish streak, adoption is growing steadily under the gaze of critics and proponents. A study by the Russian cybersecurity company Kaspersky Labs has found that more than 13% of consumers have used crypto to make some kind of […] The post Bitcoin Use Increased by 571% in the Past 5 Years and 13% of Online Buyers Have Used Cryptocurrencies, Coinmap and Kaspersky Reveal appeared first on Ethereum World News.

2019-2-15 05:45


Professor at Rutgers University Considers Bitcoin as Unethical Currency, Says Crypto is a Chance

Bitcoin (BTC) is the most popular digital asset in the market and has expanded during the last 10 years. However, there are individuals and experts that support it and others that are against it. There is a professor at Rutgers University, Tobey Karen Scharding, that is not so much against Bitcoin and virtual currencies, but […]

2019-2-14 20:22


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Polkadot (DOT) and Kusama (KSM) Fall to Historic Lows, but Increase Decentralization

Despite the bearish price action, the Polkadot (DOT) network continues to grow rapidly. Today, data was published on staking improvements and the so-called Nakamoto coefficient. The latter measures the level of blockchain decentralization, which remains higher in Polkadot than in Ethereum (ETH), BNB Smart Chain (BNB), or Cardano (ADA).

TA – Polkadot Price Shows Strength, Eyes $10

The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT). After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot.