The Managing Director of FD7 Ventures, Prakash Chand has predicted that Bitcoin (BTC) will soon reach a $10 trillion market cap in a few years. He even added that altcoins such as Cardano (ADA), Polkadot (DOT), and Ethereum (ETH) will soon follow the lead.
Altcoins Soon to Follow Suit as Bitcoin Goes on to Hit $10 Trillion
Prakash Chand is the managing partner of global cryptocurrency investment fund FD7 Ventures.
According to him, more and more people will add cryptocurrency to their portfolio by the next two years, thereby raising the overall market capitalization of the crypto market.
He sees that the younger generation will be more inclined to invest in cryptocurrencies, saying:
“The new generation of retail investors who got burned on Robinhood will turn to the cryptocurrency markets. We will see a lot of stimulus checks invested in the crypto market over the stock market.”
Chand argues that even though Bitcoin is a great store of value, platforms such as Cardano, Ethereum, and Polkadot are disrupting education, finance, healthcare, and many other industries.
The MD of FD7 Ventures did emphasize that it will be difficult for Ethereum, Polkadot, and Cardano to beat Bitcoin in terms of market. However, in the next 5-7 years these altcoins will have the ability to surpass Bitcoin’s market capitalization in the longer term.
According to him, in a few years, Bitcoin will be increased by over ten times to its current price while Ethereum, Polkadot, and Cardano have the potential to rise by 20 to 30 times from their current value.
FD7 Ventures Diversifying Crypto Portfolios
FD7 has been a constant in cryptocurrency news headlines over the last few months. For instance, by the end of February, FD7 announced converting $750M of their Bitcoin, into Cardano (ADA) and Polkadot (DOT).
Meanwhile, on March 1, FD7 Ventures launched a $250 million micro-fund to invest in altcoin projects such as Polkadot (DOT) and Cardano (ADA).
FD7 Ventures was just launched on Feb. 12 with $1 billion assets under management. The firm was set up to help investors diversify their portfolios into the growing cryptocurrency space.