Prakash Chand, the Dubai-based FD7 managing partner, has predicted that the price Cardano (ADA) and Polkadot (DOT) have the potential to rise relatively 20x within the next two to three years, which implies that the digital token ADA and DOT would trade at around $20 and $700 respectively, considering their current prices.
As reported by BusinessWire, Chand’s projection is based on his belief in the increased institutional interest in these blockchain platforms and their native tokens.
“In my opinion, these 3 projects are going to start disrupting industries across the board—from Healthcare to Real Estate to Financial.”
It can be recalled that Chand’s fund, FD7 Ventures, decided to sell-off $750 million in BTC a couple of days ago, to acquire Cardano (ADA) and Polkadot (DOT), citing the prospect of the two blockchain projects.
Chand asserted that the two blockchain projects, in conjunction with Ethereum, have a massive potential to transform the face of business across the world.
Elon Musk’s Tesla Will Buy ETH, ADA, and DOT Eventually
According to the report, a company like Tesla that holds 1.5 billion in BTC, will later take a bold step to diversify its crypto portfolio with other cryptocurrencies, including Ethereum (ETH), Cardano (ADA), and Polkadot (DOT).
Another FD7 Managing Partner, Q. Dhalla, Corroborates Chand’s Assertion
In a statement, a fellow FD7 Managing Partner, Q. Dhalla, asserted that cryptocurrency is on the verge of mass institutional adoption, believing that the leading smart contract platforms, including, Ethereum (ETH), Cardano (ADA), and Polkadot (ADA) will play a vital role
“I am getting calls from institutional investors who weren’t even aware of Cardano and it’s ADA token, but are expressing interest. This is all happening as institutions are just catching up to what Bitcoin is over a decade after it was created. Think about this, Bitcoin was created in 2009 and took it this long for real institutional money to pour in. We even have Bitcoin ETFs now.”
“We are on the cusp of mass institutional adoption in crypto. I can tell you, when it comes to Cardano, Polkadot, and Ethereum, the institutional money is not going to wait 10 years this time. 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.”