Billionaire: Out with the old, in with the new. The potential to become a crypto billionaire is now an attractive prospect.
Crypto gods Sam Bankman-Fried (CEO of FTX) and Changpeng Zhao (CEO of Binance) are already billionaires equal to any billionaires in any field other than crypto. But perhaps this generation of billionaires is just getting started.
A glimpse of the future from the point of view of some bitcoin advocates suggests that in the near future, there will be as many crypto billionaires as today’s tech billionaires.
billionaire with a vision
Recently, Wells Fargo published a report acknowledging that the development of technology and the crypto market is following a similar pattern to the Internet 20 years ago. Wells Fargo is an American multinational financial services company headquartered in San Francisco. It has assets under management of $1.955 billion in 2020.
There is good reason to think that the growth of crypto users will be stronger than the explosion of internet users. The number of Internet users is limited because they need to pay for the computer. Components aren’t as plentiful and cheap as they used to be, and new users need time to learn how to use the Internet. But now, the Internet is mainstream.
The base of the Internet creates a strong foundation for crypto to move up to a “boom point” faster than the Internet. Imagine how bitcoin (and many other altcoins) will be priced if the number of crypto users reaches 5,000,000,000,000 people in the next 10-20 years, just like the Internet. This shows that you have the potential to become a millionaire if you just buy a small “sample” of BTC.
But other than that, it must be acknowledged: If the boom of tech companies has gone through a process of rising price bubbles, crypto will be no exception.
Growth Expectations Following the S-Curve
The S-shaped growth curve shows a pattern of growth that initially accelerates and then slows down. Karl Spackler (@BushwoodCapital on Twitter) agrees that the new crypto market is only at the starting point of the S-curve compared to the development of other important sectors of humanity.
There is a lot of growth that follows this model. It represents an urgent human need in terms of large-scale application. History is there: electricity, telephone, car, color TV, internet, radio…. And now crypto.
The true value of bitcoin in particular and crypto in general is always debated (or disputed). But while the controversy continues to grow, the price of BTC has now risen from double digits to five digits. Just like that, new zeros are added.
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