Mike Novogratz Says Institutional Adoption of DeFi Will ‘Explode

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Mike Novogratz has stated his belief that it is only a matter of time before major institutional players will begin to embrace digital assets. While there are more and more institutions that have adopted digital currencies into their business models, the amount that doesn’t is much greater. Novogratz attributes this reticence to jump into the digital currency game to market volatility making these institutions nervous about investing.

He stated that liquidity in the cryptocurrency world has been motivated by what he refers to as “a gigantic community of gamblers all over the world.” He even makes the comparison between the market and a casino. Novogratz believes that if and when regulatory concerns surrounding digital currencies are taken more seriously, institutions will swarm like moths to a porch light.source