One of the founding members of Ethereum and the founder of Cardano (ADA), Charles Hoskinson expects Wall Street institutional investors to invest trillions of dollars into the cryptocurrency market once the well-defined regulations are in place and he sees the future bright ahead for the crypto market.
In his recent Tweet, Hoskinson said:
“What's often missed by the cryptocurrency is going to die broken record media is that after the next wave of regulation, wall street is showing up to the party with all their locked up capital. That's tens of trillions of dollars entering the space eventually. Future is bright”
Hoskinson, in short, lashed out at the critics saying those who are predicting a downfall for cryptocurrency might have ignored the likelihood of institutional investors waiting to invest. Some view Hoskinson’ prediction as overly optimistic, while others say it cannot be completely ruled out given that he’s been into the industry through ground level. Hoskinson’ professional experience includes founding three cryptocurrency related start-ups – Invictus Innovations, Ethereum, and IOHK (Input Output Hongkong).
Ever since the cryptocurrencies have come into the mainstream, there have been two extreme views on its outlook. While some are quite bullish, the others have called it a bubble waiting to burst. Hoskinson's view that cryptocurrency is here to stay has been echoed by many others too in the past. For instance, Elena Kvochko, chief information officer of the security division at Barclays had recently said that the regulators are open to bitcoins and blockchains till certain regulations are in place and are followed. Nasdaq’s CEO Adena Friedman also shares similar views.
Well, the institutional investors are actually expected to drive the cryptocurrency markets in the near future, especially as exchanges are focusing on products catering to deep-pocketed investors. For instance, the US-based popular crypto exchange Coinbase recently launched four new products and services aimed specifically at the needs of institutional investors, and also its index fund is now open for institutional investors. The London-based foreign exchange trading platform, LMAX Exchange also recently launched the first physical cryptocurrency exchange dedicated to serving only institutional clients.
It would be interesting to see whether Hoskinson’s prediction comes true and we witness wall street investors dominating the crypto markets as well.
