Billionaire Crypto investor, Mike Novograts has been speaking about the future of the web and how bitcoin will fit into it.
During a summit on Saturday, he explained how bitcoin has “really establish(ed) itself as a store of value” of the digital age. Before noting that it would not change the world, however. He compared it to gold in that its value is a social construct. What will change the world in his opinion though is Web 3.0.
He foresees a revolution n the way in which networks function and data is processed. He noted that data will be treated as “is “a decentralized platform to process information. It’s separating data from the processing of it.” Predicting big things for systems such as Ethereum, with many other competitors all battling it out for a piece of the pie in the new world of web.
He also explained that the nature of cryptocurrencies will be based upon their use value and that they will need to “prove themselves out” if they are going to gain any traction. “If you really think bitcoin is gonna win this store of value, everything else needs to be used for something.”
As an investor, Novograts is never shy of a prediction or two, so we will see how well his comments age before long.
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