According to Coinbase CEO and co-founder Brian Armstrong, the number of crypto users could increase by five times in the next 10-20 years. In fact, he believes that one billion mark is far.
Despite the down fall condition of the crypto market since the start of 2022, Armstrong remains bullish on its future development. At a recent conference, he forecasted that within a decade, one billion people will have jumped into the digital asset ecosystem
“My guess is that in 10-20 years, we’ll see a substantial portion of GDP happening in the crypto economy.”
Currently, there are 293 million people around the globe are involve in the crypto market, but the month-on-month growth slows due to the fluctuations in the price action and the bearish market. However, if considering the growth of new crypto users over the past year, Armstrong’s prediction is logical.
In August 21, the crypto growth rate was at 15.2%, but the same plunged to just 1.1% in September. Similarly, the user figure grew by 7.7% in November and again dropped to 1% when the overall market fell by 15.75%.
Cathie Wood Ark Invest’s CEO, said at the conference that monetary firms could lose their qualified employees if they do not embrace the DeFi sector
“In the case of DeFi and next-generation internet, we are seeing a lot of financial companies losing talent to crypto. So they have to take it seriously, or else they are going to be hollowed out.”