That sound you hear is a stampede of crypto bulls.

Investor Mike Novogratz told Blockchain Week Korea attendees last week in his keynote speech that a “herd of institutional investors” is headed toward cryptocurrencies, TheStreet.com reported.

The founder and CEO of Galaxy Digital Advisory, who made a $250 million fortune last year on ether (ETH), said it’s inevitable institutional investors will start taking part in ICOs because they’re realizing blockchain “will be will be Internet or Web 3.0 and they’ll want to participate just like they want to participate in the Web.”

Noting that many institutions are already participating in cryptocurrency through their positions in Sequoia, Polychain, Benchmark or other venture capital funds that invest in this area, Novogratz said the “second step will be buying the coins and/or the ICOs themselves.” Read more here.

ThirtyK Staff
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