Bitcoin billionaire and former Bitmain CEO Jihan Wu says the market capitalization of cryptocurrencies will continue to grow to tens of trillions of dollars.
Wu, who was an early adopter of Bitcoin and a founding figure of crypto mining rig maker Bitmain in 2013, said the market's growth would continue despite its propensity for volatility. He noted that even if 95% of the coins on the market today lose all their value and disappear, the remaining projects "will grow massively."
After leaving Bitmain, Wu founded the financial services company Matrixport in 2019, even though the cryptocurrency markets are in the depths of a bear market. The company was recently valued at $ 1 billion in its latest round of funding.
Speaking in a interview With Forbes, Wu explained that he was very optimistic about the future of crypto assets.
He said,
We believed that crypto and blockchain together would experience rapid growth in the future to tens of trillions of dollars.
Wu said that a large part of the influx of new users "will remain in the cryptocurrency market forever," creating a need for advanced and sophisticated products to manage your wealth. He argued that crypto, unlike the traditional financial system, was free to continue developing unique innovations due to the lack of restrictions.
He continued,
Innovations like DeFi are impressive. Technologies like crypto and blockchain have created a new world, enabling fintech entrepreneurs to achieve great things. Eventually, traditional financial institutions and regulators will adopt blockchain technology.
Disclaimer
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading crypto assets carries a risk of financial loss.
