Vitzke stressed that the rapid rise of Bitcoin at the end of 2017, when it reached $ 20,000 per coin, was provoked by a distorted and incorrect perception of what is necessary for traditional capital to adopt a new area.
“Due to the fact that the end of 2017 was so crazy, people began to think that the cryptocurrency industry is developing rapidly. At the technology level, it often does this, but I think that institutional clients need time to accept. We need better custodial services, normal debt and credit markets, and then large customers will go to the industry. So I think that the year 2019 is unlikely to be a breakthrough, ”said Vitske.
Partner Winklevoss Capital also noted that although many investors are studying the topic of cryptocurrency, almost no one enters the industry. Investors are hampered by two factors: an insufficiently clear position of regulators, especially in the United States, and also computer security issues. Viczke calls for providing investors in the cryptocurrency area the same level of protection as traditional investors.
Note that recently the Winklevoss brothers also came out in support of the regulation of the cryptocurrency industry.