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- Mutual fund FD7 Ventures predicts that the price of Cardano (ADA) and Polkadot (DOT) could increase 20 times.
- This would bring ADA to USD 20 and DOT to USD 700 in just under 3 years, setting new historical all-time highs.
At the end of February, the investment fund FD7 Ventures announced that it would sell Bitcoin worth USD 750 million in exchange for Cardano (ADA) and Polkadot (DOT). In a new press release, the Dubai-based financial giant predicts that the price of Cardano and Polkadot could soar massively 20 times over the next three years.
Cardano, Polkadot and Ethereum are paving the way for mass adoption
If the prediction is true, that would mean a price of $ 20 for Cardano and $ 700 for Polkadot. According to Prakash Chand, managing partner of FD7, this development is primarily due to the sharply increased interest of institutional investors in future-oriented platforms and the importance of ADA and DOT for their respective ecosystems. Chand explains that Cardano, Polkadot and Ethereum will revolutionize different industries:
In my opinion, these three projects are going to disrupt industry across the board – from healthcare to real estate to finance.
The analyst also states that particularly large technology companies such as Tesla will invest part of their cash reserves in promising projects such as ETH, DOT and ETH. Tesla recently announced it would invest $ 1.5 billion in Bitcoin and accept BTC as a payment method. In his opinion, these three projects will pave the way for mass adoption:
I get calls from institutional investors who didn’t even know Cardano and its ADA token, but who have expressed interest. This is all happening as the institutions are catching up on what Bitcoin is just over a decade after it was founded. Think about it, Bitcoin was founded in 2009 and it has taken this long to come in real institutional money. We even have Bitcoin ETFs now.
Bitcoin has seen a growing confidence in recent years, with new projects taking much less than 10 years to complete, according to Chand:
We are about to introduce mass institutions in cryptography. I can tell you that when it comes to Cardano, Polkadot and Ethereum, institutional money is not going to wait 10 years this time around. Bitcoin gave us the proof of concept that built confidence in the market and created a way for innovative altcoins to scale much faster.
Chand is impressed with the developer activity
According to Chand, the Cardano team is following an “impressive” roadmap and developing blockchain solutions to solve real-world problems such as “intelligent contract documentation and financial access for millions of people to banking in African nation states”. As Crypto News Flash reported, IOG, the development company behind Cardano, is working with the Ethiopian government to implement the world’s largest blockchain project.
Millions of people receive a digital ID in the Cardano blockchain, which can later be used to take out loans and record medical files. The Polkadot Protocol, on the other hand, offers a robust ecosystem for developing decentralized platforms for the Web3, according to Chand.