Mike Novogratz, during his speech at the Beyond Blocks conference in South Korea, foretold that it will take 5 or 6 years for blockchain and cryptocurrency mass adoption.
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The prediction is based on how long it will take for crypto infrastructure, including regulations, to improve to a satisfactory level and for institutions to begin pushing into space in huge numbers.
Novogratz noted that one of the major struggles to encounter on the way to general adoption is the growing “cost of technical talent” as well as the uncertainties of conventional investors, which are provoked by “no clear precedent for the financial industry.”
The investment banker is known for his prediction that Bitcoin (BTC) would increase up to $10,000 by the end of the year 2017, while Ethereum (ETH) would settle at $500. Rather, the top cryptocurrencies have gone twice as further.
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