ADA, DOT Could Rise 20x in 2-3 Years, Says FD7 Ventures
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Managing Director of Dubai-based crypto investment fund FD7 Ventures Prakash Chand projected that the prices of Cardano (ADA) and Polkadot (DOT) could rise 20-fold in the next 2-3 years.
In addition to believing in ADA and DOT, he also believes that more institutional investors will begin to share his enthusiasm very soon. “The potential for these two projects along with Ethereum to change the way that the world does business is massive,” Chand said. “In my opinion, these 3 projects are going to start disrupting industries across the board—from Healthcare to Real Estate to Financial,” he added.
Institutional Investors Expressing Interest
According to FD7, Managing Partner Q. Dhalla said he is getting calls from institutional investors “who weren’t even aware of Cardano and its ADA token.” However, he said they are expressing interest.
Dhalla believes, “we are on the cusp of mass institutional adoption in crypto.” He said that after a decade, BTC is finally receiving its due attention from institutions.
Because of this, investors are primed to diversify into other applications of the blockchain. “Bitcoin has given us the proof of concept that built trust in the market and forged a path for innovative altcoins to scale much faster,” he explained.
BTC Not Entirely ‘Useless’
FD7 Ventures recently announced it would liquidate $750 million of Bitcoin (BTC) to buy more ADA and DOT. Chand justified this decision by saying the altcoins would better serve his investors. He then added that he thought BTC was “actually pretty useless.”
“I probably shouldn’t have used the word ‘useless,’ he admits. He credits BTC with being first to market. Even for building a brand, institutional investors have become more comfortable with it. “Though, besides being a store of value, Bitcoin doesn’t do much in terms of actual utility and industry innovation,” he explained. “But, I strongly do feel ADA, DOT, and ETH have greater potential to change the world with meaningful projects,” he concluded.
To this end, FD7 announced it would invest $250 million in a micro-fund in Bangalore. The company is dedicating the micro-fun to developing the ecosystems of ADA and DOT.
The micro-fund plans to invest $1-5 million annually across 50 companies developing ADA and DOT. Depending on their growth, some 30% of these companies will receive a secondary investment between $5-20 million.
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