Prakash Chand, Managing Director of Dubai-based crypto investment fund FD7 Ventures, is confident that Cardano (ADA) and Polkadot (DOT) rates will grow 20 times in the next 2-3 years.
In addition, he also notes the growing interest of institutional investors and believes that this trend will gain momentum.
“The potential for these projects, as well as Ethereum, is huge, and they have the potential to change the way people do business ,” Chand said. “In my opinion, these three projects will revolutionize various areas – from healthcare to real estate and finance,” he added.
Institutional Investors Show Interest
FD7 Managing Partner K. Dhalla noted that he receives calls from institutional investors «who have no idea about Cardano and ADA.» However, they are showing interest. Recall that Cardano recently entered the top 3 in terms of market capitalization
Dhalla believes that «we are on the cusp of massive institutional adoption of cryptocurrency.» Ten years after the emergence of Bitcoin (BTC), he said, institutions have finally turned their attention to the new asset.
Many are ready to diversify their portfolios and are looking at other blockchain applications.
“Bitcoin has proven the concept and built trust in the market. In doing so, he paved the way for the emergence of innovative altcoins , ”he explained.
BTC is not completely useless
FD7 Ventures recently announced that it will sell $ 750M worth of bitcoins (BTC) to buy ADA and DOT. Chand explained this decision by the fact that altcoins better satisfy investment needs. He also added that he thinks Bitcoin is actually useless.
“Perhaps not the best word ,” he later admitted.
The expert gives Bitcoin its due as a market pioneer. In addition, he created a brand, and many institutional investors are more comfortable dealing with Bitcoin.
“Bitcoin can be used as a store of value, but beyond that it does little in terms of real utility and industry innovation,” he explained. “But I firmly believe that ADA, DOT and ETH are capable of changing the world by opening doors to innovative projects,” the expert concluded.
FD7 has invested $ 250 million in a microphone in Bangalore. It will focus on the development of the ADA and DOT ecosystems.
Microfund plans to invest $ 1-5 million a year in 50 companies developing applications based on ADA and DOT. Depending on the growth rate, about 30% of these companies will receive secondary investments ranging from $ 5 to $ 20 million.