(Forbes) Bitcoin has failed to revolutionize the world's financial system since it was created a little over 10 years ago—but some think it's still too early to brand the cryptocurrency revolution dead.
"What 2017 did, that crazy bull market, is it got people unrealistic expectations on how fast the blockchain revolution, the crypto revolution is actually going to happen," Mike Novogratz, the chief executive officer of Galaxy Digital Holdings, a bitcoin and cryptocurrency investment company, told financial newswire Bloomberg this week.
"You gotta give them some more runway before we give them the thumbs up or thumbs down."
This year's bitcoin bull run is thought to have been sparked by the likes of Facebook eyeing bitcoin and cryptocurrency technology, though Novogratz expects traditional financial companies will trigger the next leap higher.
"I think [the next bitcoin bull run will happen] when institutions start coming in,” Novogratz said, but promised "they’re slowly and steadily moving in."
"This is not like a backwater experiment anymore, this is part of the financial infrastructure," said Novogratz. "It’s time for the regulators to catch up."