Investment legend Michael Novogratz, the $3.2 bln investor and former manager of the multi-billion dollar investment firm Fortress, recently stated that the cryptocurrency market will be worth $5 trillion by 2022.
Preaching crypto optimism
Over the past two years, Novogratz has expressed his optimism towards cryptocurrencies such as Bitcoin and Ethereum that have been leading the $100 bln cryptocurrency market. Previously, Novogratz revealed that 10 percent of his net worth, at least hundreds of millions of dollars, are invested in a diverse portfolio of cryptocurrencies including Bitcoin, Ethereum and Litecoin.
Bitcoin has transformed into a global phenomenon within a period of years due to its decentralized and transparent nature that have made Bitcoin an efficient store of value, digital currency and safe haven asset for the vast majority of users, traders and investors.
Other successful cryptocurrencies such as Ethereum, Litecoin and Ethereum Classic have gained interest from both individual and institutional investors with their distinctive strategies, philosophies, monetary policies and purpose.
Ethereum, for instance, provides an infrastructure for decentralized autonomous organizations (DAOs) and decentralized applications (DApps), creating an intermediary-free network of applications. Ethereum Classic is more similar to Bitcoin in the sense that it has a fixed and deflationary monetary supply.
Full Read here https://cointelegraph.com/news/billionaire-fortress-investor-cryptocurrencies-will-be-worth-5-trillion-by-2022
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This is an increase of 50x over the next 5 years, meaning these coins have to grow by almost a trillion dollars a year and it is not going to happen.
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