BARRY SILBERT: MOST CRYPTOCURRENCIES WILL DEPRECIATE

A lot of crypto-currencies will not be able to survive the current situation in the market, most digital money will become worthless, believes Barry Silbert, CEO of Digital Currency Group. In an interview with CNBC, he said that Bitcoin has already won the fight for the right to be called “digital gold, the coin is actively interested in institutional investors.

“I do not believe in most cryptocurrencies, they will become worthless. Almost every ICO project tried to attract money, but their tokens are now not used anywhere,” Silbert said.

He added that Millennials will invest in Bitcoins. Also, the money that is now in gold, will be transferred to the cryptocurrency, says the head of the American venture company.

According to him, the situation in the market will change dramatically when major players come. Infrastructure for them is already being developed, soon it will launch the store from the company Fidelity and platform Bakkt.

At the end of last year, Silbert said that the ICO market died. The expert called the fall in the value of digital money a fantastic opportunity to buy assets at a bargain price.