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Coinbase CEO Brian Armstrong predicts a timeline for global cryptocurrency adoption, saying the industry is still in its very early stages.
In a new episode of Coinbase’s Around the Block podcast, Armstrong says Bitcoin’s market cap isn’t big enough yet Bitcoin It serves as a flight asset to the serious security that some of its supporters predict.
However, Armstrong said Bitcoin could play the role of the “new gold” asset class within the next decade.
Normally in a down macro environment, we see a flight to safety. , is that it does not make up a large enough percentage in the wider economy to actually be treated as digital gold in the sense that people are escaping safety against bitcoin.
You’ll probably find that it changes over time. Although I can see that in the next 5 or 10 years the crypto economy will become a larger percentage of the world’s GDP and people will actually run away to bitcoin as sort of the ‘new gold’. , it hasn’t happened yet. Frankly, I admit that I overestimated the potential of Bitcoin to be this inflation hedge in this macro environment. I thought it would get a lot of attention, but it seems it came a little too early. ”
Armstrong said cryptocurrencies could follow the same trajectory as the e-commerce adoption curve.
It reminds me that even 10 years ago when I started Coinbase, I thought it was so early.
It would take decades for the global macro environment to begin to see the crypto economy as the main one.A similar thing happened 20 years ago, in 1999-2000, when e-commerce first took off. Treat it as a sideshow and say, “Oh, I never entered my credit card into a website.” It might get stolen or something. Twenty years later, e-commerce accounts for his 15-20% of global GDP.
So I think the crypto economy will follow a similar trajectory. That’s probably another 5 or 10 years for him. “
Me
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