CEO of Digital Currency Group: Most of Cryptos Will Go to Zero
Barry Silbert, CEO of the crypto company Digital Currency Group, is confident that most cryptocurrencies will be worthless, and their price will plunge to zero. Simultaneously, bitcoin will become digital gold.
CNBC that most of the ICOs were to raise money. But projects’ tokens merely do not have a real-life application. Because of this most of the cryptocurrencies will collapse to zero.Barry Silbert told
But this does not apply to the first cryptocurrency - bitcoin. Barry Silbert argues that despite the “ugly technical chart” of BTC price, institutional investors are strongly interested in bitcoin. Moreover, the infrastructure for institutional investors is ready, and they can safely enter the market.
In general, according to Barry Silbert, bitcoin "won the race" for the title of "digital gold." After all, the younger generation of investors does not consider traditional gold as a safe haven. Therefore, they will hedge risks with the help of BTC. This process will begin with millennials.