Brian Armstrong, CEO of Coinbase, one of the world’s largest cryptocurrency exchanges, predicts that there will be 1 billion crypto users in the market within ten years.
“Cryptocurrency users will reach 1 billion”
Coinbase Global Inc. CEO Brian Armstrong said Monday at the Milken Institute Global Conference that within ten years, the number of crypto users or experienced people will reach 1 billion, from the current nearly 200 million. Brian Armstrong comments in a session with Cathie Wood, CEO of ARK Investment Management LLC:
My guess is that in 10-20 years we will see a significant portion of GDP realized in the crypto economy. During this period, a significant portion of the gross domestic product of the countries will be composed of the crypto money economy.
Armstrong’s comments come at a time when the crypto markets are quite turbulent. As we mentioned in the news of Kriptokoin.com, the leading crypto Bitcoin (BTC) is losing value after reaching an all-time high of almost $ 69,000 in November. The world’s largest cryptocurrency has dropped nearly 17% since the start of the year.
“Regulatory clarity on crypto moves very slowly”
Meanwhile, the voices of crypto skeptics have also been raised. But Brian Armstrong and Cathie Wood, whose Ark is one of the biggest Coinbase investors, took a united front.
Cathie Wood shows promise even in decentralized finance (DeFi), a lightly regulated cryptocurrency sector where people can buy, sell, lend and borrow tokens directly without intermediaries like banks. Cathie Wood comments:
When it comes to DeFi and the next generation internet, we see many financial companies losing their talents to crypto. So they have to take it seriously or it will go empty.
In addition, Cathie Wood states that regulatory uncertainty in the US continues to hinder the progress of crypto, and states that regulatory clarity on cryptocurrencies is occurring at a much slower pace than the internet.
Brian Armstrong also says, “It has become increasingly difficult to meet a genuine crypto skeptic in DC,” adding that about 50% or more of people in Washington are currently pro-crypto.