Coinbase CEO and co-founder Brian Armstrong predicted a significant increase in the number of individuals involved in the crypto universe in the next 10-20 years. In fact, he believes that there is no question of a billion mark.
5 fold growth in 10-20 years
Despite the dire state of the crypto market since the beginning of 2022, Armstrong remains optimistic on its future growth. At a recent conference, he predicted that within a decade, a billion people would have jumped into the digital asset ecosystem:
“I estimate that in 10-20 years, we will see a bigger share of GDP in the crypto economy.”
Armstrong’s prediction seems logical, considering the growth of new crypto users over the past year. During the first six months of 2021, the number of people involved in the market more than doubled, reaching over 220 million individuals.
However, it is worth noting that during this time frame, the price of Bitcoin and most of the altcoins were consistently hitting higher levels. For one, the primary cryptocurrency exceeded $60,000 in April 2021, which is 50% above its current USD valuation.
Also speaking at the conference was Cathy Wood, CEO of Arch Invest. He argued that financial companies could lose their qualified employees if they do not embrace the DeFi space:
“In the case of DeFi and the next generation of the Internet, we are seeing a lot of financial companies losing their talent in crypto. So they have to take it seriously, or else they will be hollowed out.”
Coinbase’s Recent Efforts
Speaking of Brian Armstrong, it is pertinent to mention the progress of his crypto exchange – Coinbase – over the past several months.
In March, the company announced that the launch of its NFT marketplace would take place “soon”. Despite not disclosing the exact date, more than 2.5 million Coinbase users joined the waiting list.
Shortly after, reports revealed that the trading site is close to acquiring Brazilian crypto exchange – 2TM. The latter is controlled by the largest digital asset brokerage in Latin America – Mercado Bitcoin.
In April, Coinbase revealed its intention to buy Turkey’s oldest crypto platform – BTCTurk. The acquisition was to be finalized for approximately $5 billion. However, due to the depreciation of the Turkish lira and the recent decline of bitcoin, the entities shook hands on a $3.2 billion settlement.
Featured image courtesy of BusinessInsider
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