Ethereum Co-Founder Says Wall Street Will Pour $20 Trillion Into Crypto
Ethereum co-founder Charles Hoskinson says crypto critics are overlooking the number of institutional investors waiting to pour their money into cryptocurrency.
According to Hoskinson, Wall Street is poised to invest “tens of trillions” after the “next wave of regulation.”
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
— Charles Hoskinson (@IOHK_Charles) June 21, 2018
Several big players are preparing for institutional dollars. Goldman Sachs-backed Circle announced a stablecoin to minimize volatility in the cryptocurrency markets and help pave the way for Wall Street investors.
Coinbase has been developing four new products to unlock “$10 billion of institutional investor money sitting on the sideline.”
Nasdaq has been partnering with cryptocurrency exchanges, including Gemini, that are using its surveillance technology to create more robust trading platforms and meet the technical demands of institutional traders, in addition to announcing its own considerations about building out a crypto trading exchange.
Gemini has partnered with Caspian to connect institutional traders with multiple exchanges from a single interface.
Industry leader Susquehanna International Group, one of the world’s largest investment firms, will open trading of Bitcoin, Bitcoin Cash and Ethereum for an initial group of qualified investors.
And Binance, the world’s largest cryptocurrency exchange by volume, has been in talks with the Maltese stock exchange, among other governments, to grow the cryptocurrency ecosystem by introducing more fiat-to-crypto trading pairs.
Several outspoken detractors and major influencers, such as Warren Buffett, Jamie Dimon and Bill Gates, doubt the staying power of Bitcoin or the appeal of cryptocurrencies, calling them foolish investments. Buffett has said he is almost certain cryptocurrencies “will come to a bad ending.”
Currently, cryptocurrency represents a small fraction of the world’s wealth at a market cap of roughly $286 billion, while derivatives represent hundreds of trillions of dollars.
Hoskinson left Ethereum in 2014 to start IOHK, a tech company that builds blockchains and cryptocurrencies for academic institutions, governments and companies.
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