Crypto Chronicle
  • Home
  • News
  • Hedge Fund Billionaire Calls Blockchain Web 3.0
Blockchain News

Hedge Fund Billionaire Calls Blockchain Web 3.0

web 3 point 0

Keen EOS supporter and ex-hedge fund manager Mike Novogratz spoke at Blockchain Week Korea where he outlined his ideas regarding institutional investment in blockchain technology.

Novogratz, who made his billions running a hedge fund at Fortress Investment Group, has stated that he believes institutional investors will see blockchain as Web 3.0. He thinks it is inevitable that they will take part in ICO’s which would bring a huge amount of capital into the cryptocurrency sector.

After a couple of failed investments in 2015, Novogratz was forced to close his fund but has since returned to the financial world after making a significant profit from Ethereum last year. He has since launched a merchant bank to trade in cryptocurrency and invest in blockchain startups.

In a press conference with financial news outlet The Street, he discusses ways in which venture capital funds will play a part in bringing further institutional investment into the crypto market. A number of funds already exist, like Pantera and Polychain, and big venture capitalists like Japan’s SBI bank are getting more involved every day.

He also spoke of his faith in the EOS network, the advantages leveraged from a delegated proof of stake blockchain and how security tokens don’t suffer from the volatility of most cryptocurrencies.

Image From Shutterstock

Related posts

Has Bitcoin become the new Stablecoin?

Mark Hartley

Global Shipping Giant Maersk Partner with IBM for Blockchain Shipping Solution

Mark Hartley

Saudi Arabia Increases its Adoption of Blockchain Technology

Mark Hartley

Leave a Comment

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close