Coinbase CEO Brian Armstrong predicts cryptocurrency economy will explode to 15% of global GDP

Coinbase Founder and CEO Brian Armstrong is optimistic about the future of crypto assets despite the current market downturn.

In a recent Coinbase Q1 earnings announcement, Armstrong said: say The cryptocurrency economy will expand to around 15% of global gross domestic product (GDP) over the next 20 years.

“I think this is similar to the early days of the Internet, where we saw the birth of e-commerce in the late 90s or early 2000s and now, 20 years later, we saw the birth of e-commerce. That’s about 15% of global GDP.

And if you fast-forward 20 years from here, I think the cryptocurrency economy will probably make up a significant portion of the world’s GDP, 15%.”

Armstrong believes that businesses will adopt cryptocurrencies in the future to the same extent that they are adopting the Internet today.

“In fact, I think most companies will use cryptocurrency in some way in the future in the same way that most companies use the internet today.”

Armstrong says a prolonged downtrend in response to the current downturn in the cryptocurrency market could exacerbate market sentiment.

“I mean, we’ve had enough of these things in a young market where people are irrationally overcrowded. And in a bear market, people are irrationally pessimistic, right?

And remember, this is like the quarter where the market retreated. If it goes on for four quarters, I think there will be blood on the streets or something like that. Or something like that.”

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Disclaimer: Opinions expressed in the Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Daily Hodl is involved in affiliate marketing.

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