Amy Arnott is a portfolio manager at American Giant Investment Research MorningStar. She stated that Cardano can Become A Mainstream Crypto Like Bitcoin And Ethereum
The cryptocurrency-oriented strategist discussed her thoughts about Cardano in conversation with Business Insider. Arnott shared his thoughts and noted that blockchain could have many technological applications that could be of interest to institutional investors.
Arnott said that Cardano shares a lot with Ethereum. She said that Cardano’s technical applications could help it penetrate the main channel.
“Cardano is similar to Ethereum in that it’s a protocol that has a lot of potential technical applications. There’s a lot of enthusiasm about Cardano and also various stablecoins.”
Institutional investors are showing great interest in Cardano
According to the CoinShares, institutional investors are more likely to buy Proof Of Stake (POS) crypto coins like Cardano. According to Coinshares reports, Cardano received $5.2 million inflows within a week.
Recently Grayscale A Leader in Digital Currency Investing added Cardano to there Crypto trusts. Cardano the largest proof-of-stake blockchain is now Grayscale third-biggest holding with a 4.26 percent share, only behind BTC and ETH.
“The interesting thing that’s happened over the past year or so is that institutional investors have been far more willing to adopt cryptocurrencies and look at them as an investment asset. As that trend continues, we’ll see Cardano and other cryptocurrencies become more mainstream.”
Arnott Said that crypto regulations are big concern, if Governments decide to go after Bitcoin and crypto it would be a big negative for crypto market.
“Regulatory risk is a big issue – that’s been the driving factor behind a lot of the volatility over the past few months. If governments around the world clamp down on crypto in general, or bitcoin and ether specifically, that would be a large negative.”