Charles Hoskinson, founder of Cardano (ADA) says Wall Street might bring tens of trillions of dollars into crypto.
Cardano is the eight largest cryptocurrency according to Coinmarketcap with a market cap of $3.5 billion. Cardano is a platform that strives to become the “Internet of Blockchain” by making it possible for different currencies to co-exist side by side. It uses a Proof-of-Stake system which reduces the need for electricity requirements that is often required to make a blockchain run.
On June 21, Charles Tweeted “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”
He is not the first one to mention institutional investors in crypto. Coinbase announced on March 6 its Index Fund, making it possible for accredited investors to invest large amounts of funds into crypto. They also say” We’re working on launching more funds which are available to all investors and cover a broader range of digital assets.”
Goldman Sachs is said to launch a cryptocurrency trading desk, Business Insider reported in April, while Barclays Plc is apparently interested in setting up a cryptocurrency trading desk, Bloomberg reports.
Barclays spokesman Andrew Smith said in a statement, “We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market.”