Institutional Investors Hold Bitcoin’s Fate, Suggests Ex Board Director North County Bar Association

Michael Doukas, ex board director of the North County Bar Association, has stated a crucial factor that will be affecting the journey of bitcoin. Bitcoin’s future and rebound are the center of attention for many people nowadays. Doukas highlighted the potential constituent for the long run of bitcoin. He has shared his stance on the current affair which encompasses people’s optimism for bitcoin as well. Regarding people’s bullish attitude towards bitcoin, he shared some thoughts with BlockPublisher. He said:

It sounds like that is the recommendation, but over the long term as more institutional investors get on board. We’ll see.

Although he did add involvement of institutional investors as a key role in bitcoins’s future, but Mike could not tell what prospects opened if more investors affiliated their interests with bitcoin.

Michael Doukas has devoted three years for North County Bar Association. He became the treasurer and vice president of North County Bar Associations in his final year of service over there. He is currently an attorney and counselor at law, San Diego California. Besides the law, he invests his time in other domains such as economics, finance, cryptocurrency etc. Recently, he expressed his thoughts on Mike Novogratz’s claim which suggested that bitcoin has dropped to its lowest price of all time. Doukas responded his understanding on Novogratz’s claim and said;

He (Mike Novogratz) predicated this forecast on the assumption that mainstream regulated custodians will begin storing cryptoassets for institutions, and reports from insiders at banks such as GoldmanSachs suggest that this will happen sooner rather than later.

Experts in this domain have been pointing out regulations as key success indicator for crypto adoption in masses but regulations may take a couple of more years. Talking to BlockPublisher, 9 Spokes board member, Thomas Power had said;

SEC need time to analyse, consider, plan a new asset class on this kind of scale. Could even reach to 2020.

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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