CEO of London startup Revolut storonskiy Nikolai (Nikolay Storonsky) said at the summit Web Summit 2018 in Lisbon that the interest of large financial institutions to the cryptocurrency as a potential future banking too early.
According to Bloomberg, Storonsky claims that have not yet seen interest from institutional investors operating in traditional markets — and this despite the fact that giants such as Goldman Sachs and Fidelity are already engaged in the creation of mechanisms that would enable institutional investors and retail traders to invest in the cryptocurrency market.
“While interest from large institutional investors do not. Unless these large institutional investors and hedge funds do move to the side of the cryptocurrency world, but I simply don’t think the banks do it because they’re just trying to make money off of their customers,” said stronski.
Co-founder and CEO of the startup expects that the situation will improve in 2019, and still believes that big banks will remain on the sidelines for some time:
“FINTECH will mean a lot for cryptocurrency in foreseeable future. I just don’t think that banks will be able to catch up.”
Despite the skepticism of these “sobering” comments, it should be borne in mind: Storonsky — known crypto-enthusiast, defending the position that bitcoin is “clearly not fraud.”
In April of this year Revolut raised $250 million, becoming the “unicorn” — the capitalization of the project reached $1.7 billion Startup that developed the app with impressive functionality and positioning itself “a global alternative to banking”, organized through a system of debit cards whose owners are unable to spend money in 150 currencies without Commission at exchange rate real time.
“Crypto currency exchange may seem complicated, if you look at @RevolutApp, where users can now convert any of 24 currencies directly on #Bitcoin, #Litecoin, #Ethereum, #BitcoinCash and #XRP. Co-founder and CEO Nicholas storonskiy reveals his vision for the future of banking,” wrote “Mr. Blockchain” Twitter — CEO of a startup YouYaa Malik Zeeshan (Zeeshan Mallick).
Starovskogo bearish view on the prospects of cryptocurrency market in the short-term basis in fact reiterating the position Larry Fink (Larry Fink), CEO of the world’s largest company asset management BlackRock. So, according to Fink, with assets under management of $6.4 trillion BlackRock will launch their bitcoin exchange-traded Fund (ETF), while the industry of cryptocurrency will not be “legitimate.” And since the market is still in its infancy, Fink does not believe that it will happen soon.
Quite the opposite opinion is expressed by crypto-Evangelist Mike Novogratz (Mike Novogratz), claiming that the future of the digital asset is not limited and over the next few months you can expect a rapid market growth, and the powerful momentum here is just the institutional investors.
According to the forecasts of Novogratz, head of the crypto-Bank and well-known figures from wall Street in the past, bitcoin will end with a decline, typical for this year, and will rise in price to $20 000 in 2019, which will contribute to market entry of a large number of institutional investors, eager not to lose their benefits. The novogratz convinced that when bitcoin is universally accepted, the world of traditional Finance jumps on the bandwagon of the outgoing car.