Brian Armstrong – CEO and co-founder of Coinbase – predicted a substantial increase in the number of individuals involved in the crypto space over the next 10-20 years. In fact, he believes the billion mark is not out of the question.
5 times more in 10-20 years
Despite the rather bleak state of the crypto market since the start of 2022, Armstrong remains optimistic about its future development. At a recent conference, he predicted that within a decade, one billion people will have jumped into the digital asset ecosystem:
“I suspect that in 10 to 20 years we will see a substantial share of GDP occurring in the crypto economy.”
Considering the growth of new crypto users over the past year, Armstrong’s prediction seems logical. In the first six months of 2021, the number of people involved in the market more than doubled, reaching over 220 million individuals.
It should be noted, however, that during this time, the prices of bitcoin and most altcoins were reaching all-time highs quite frequently. For one thing, the major cryptocurrency surpassed $60,000 in April 2021, which is more than 50% higher than its current USD valuation.
Ark Invest CEO Cathie Wood also spoke at the conference. She argued that money businesses could lose their skilled employees if they don’t embrace the DeFi sector:
“In the case of DeFi and next-gen internet, we are seeing many financial companies losing talent to crypto. They must therefore take it seriously, otherwise they will be ousted.
Coinbase’s recent efforts
Speaking of Brian Armstrong, it is worth mentioning the progress of his crypto exchange – Coinbase – over the past few months.
In March, the company announced that its NFT Marketplace will launch “soon”. Although they didn’t reveal an exact date, more than 2.5 million Coinbase users joined the waitlist.
Soon after, reports surfaced that the trading platform was set to acquire Brazil’s crypto exchange – 2TM. The latter is controlled by the largest digital asset broker in Latin America – Mercado Bitcoin.
In April, Coinbase revealed plans to buy Turkey’s oldest crypto platform – BtcTurk. The acquisition was to be completed for approximately $5 billion. However, due to the depreciation of the Turkish lira and the recent dip in bitcoin, the entities shook hands on a $3.2 billion deal.
Featured image courtesy of BusinessInsider
Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% off Binance Futures fees for the first month (terms).
PrimeXBT Special Offer: Use this link to sign up and enter code POTATO50 to receive up to $7,000 on your deposits.