Coinbase Founder and CEO Brian Armstrong is bullish on the future of crypto assets despite the current market downturn.
In a recent Coinbase Q1 earnings call, Armstrong said the crypto economy will grow to about 15% of global gross domestic product (GDP) over the next 20 years.
“I think it’s a bit like the early days of the internet when you saw the birth of e-commerce in the late 90’s or early 2000’s and now fast forward 20 years, e-commerce I think is about 15% of global GDP.
And I think if you fast forward 20 years from here, the crypto economy will probably be a big part of that, 15% of global GDP.”
Armstrong says he believes companies in the future cryptocurrencies will launch at the same level at which they currently took on the Internet.
“I think actually, just as most businesses are using the internet now, I think most businesses are going to be using crypto in some shape or form in the future.”
In response to the current downturn in crypto markets, Armstrong says market sentiment could deteriorate if the downtrend extends for a longer period of time.
“I mean, look, we’ve been through enough of where I think in the young markets people are irrationally ebullient. And then in the down markets, people are irrationally bearish, right?
And remember, that’s exactly like we had a quarter where the market sort of pulled back. I think there’s going to be real blood in the streets or something if it goes on like this for four quarters. Or something like that.”
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Source: Crypto News Deutsch