Crypto users might grow fivefold in the next 10-20 years, according to Coinbase’s Brian Armstrong.
In the next 10-20 years, Brian Armstrong, CEO and Co-Founder of Coinbase, predicts significant growth in the number of people interested in cryptocurrency. In fact, he feels that reaching the billion-dollar barrier is not impossible.
Armstrong Upbeat About Crypto’s Future:
Despite the crypto market’s bleak state since the beginning of 2022, Armstrong is optimistic about its future growth. He predicted that one billion individuals would be involved in the digital asset ecosystem within a decade at a recent conference: “I believe that in 10-20 years, the crypto economy will account for a significant amount of GDP.”
Armstrong’s projection seems reasonable given the increase of new crypto users over the last year. The number of persons active in the market more than doubled in the first six months of 2021, reaching over 220 million.
It’s worth mentioning, though, that the values of bitcoin and most altcoins were routinely setting all-time highs throughout this time period. For one thing, in April 2021, the principal cryptocurrency hit $60,000, which is more than 50% greater than its current USD value.
Cathie Wood, the CEO of Ark Invest, also spoke at the event. She claimed that if financial businesses do not embrace the DeFi sector, they risk losing talented employees: “We’re seeing a lot of financial organizations lose talent to crypto in the case of DeFi and next-generation internet. As a result, they must take it seriously or risk being hollowed out.”
Coinbase’s Most Recent Efforts:
When it comes to Brian Armstrong, it’s worth noting how far his cryptocurrency exchange, Coinbase, has come in recent months.
The business said in March that it will start its NFT marketplace “soon”. Despite the lack of a specific deadline, nearly 2.5 million Coinbase customers have signed up for the waiting list.
Shortly after, speculations surfaced claiming that the trading platform is on the verge of purchasing Brazil’s 2TM crypto exchange. Mercado Bitcoin, Latin America’s largest digital asset brokerage, is in charge of the latter.
Coinbase announced plans to buy BtcTurk, Turkey’s oldest crypto site, in April. The deal was intended to be completed for around $5 billion. The businesses joined hands on a $3.2 billion transaction, despite the Turkish lira’s recent fall and bitcoin’s recent collapse.
