New episode of the podcast around the block Coinbase recently released. The CEO of Coinbase, one of the largest exchanges in the world, made remarks during this episode. Brian Armstrong made predictions for major cryptocurrencies. He explained how Bitcoin (BTC) can expand globally.
Coinbase CEO has and expect This bitcoin will eventually become the new gold, in the process of being adopted. Brian Armstrong has planned a timeline for global adoption of these assets. He admitted that the cryptocurrency industry is still in its infancy. But things will change for him within a decade.
He said: I could see in the next five or ten years that the cryptocurrency economy will actually become a larger percentage of global GDP that people will flee to bitcoin as a kind of new gold if you will, but that hasn’t happened yet. “.
Coinbase CEO claims he has“above average”Bitcoin (BTC)
Brian Armstrong says he overestimated the ability of cryptocurrency to protect consumers from inflation. “Honestly, I admit it, I overestimated the odds of Bitcoin being an inflation hedge in this macro environment. I thought this might actually bring more interest to bitcoin in this kind of environment, but it looks like we’re way too early.“, He confessed.
The CEO explained that 10 years ago when he started working at Coinbase, he thought it was too early for cryptocurrency. But he still finds it today Bitcoin does not have enough market capitalization yet to truly become digital gold.
The global adoption of BTC will be akin to e-commerce
Coinbase CEO stresses that it will be necessary to wait several decadesFor the global macro environment to start seeing the cryptocurrency economy as the mainstayIt suggests that the market will has evolved A bit like e-commerce 20 years ago, in 1999-2000.
At the time, consumers could not imagine using a credit card on any website. They were afraid of being scammed. though,”Here we are 20 years later and e-commerce makes up 15-20% of global GDP“.
The CEO of Coinbase recently predicted that global adoption of the crypto industry will be like e-commerce 20 years ago. According to him, within ten years, Bitcoin (BTC) will succeed in fulfilling the role of digital gold.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I resolved to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.