Brian Armstrong in his latest tweet The future of the cryptocurrency market predicted According to him, Digital gold It will follow a similar path with e-commerce.
Brian Armstrong, CEO of Coinbase, released a timeline, time Global acceptance of Bitcoin predicted According to Armstrong, the cryptocurrency industry is still in its infancy.
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Predicting the future of digital gold
In a new episode of the Around The Block podcast, Armstrong stated that Bitcoin market value It is still not big enough to be called gold. According to Armstrong, Bitcoin will enter a new asset class in the next decade.
Brian continued, “In low-end macro environments, most assets are trying to get into the safe and stable asset class. In the traditional economy, gold plays the role of a safe asset. The recent downward trend of the cryptocurrency market shows that Bitcoin is still not included in the global economy and we cannot call it digital gold.
Armstrong believes that over time we will see the situation change. It is expected that in the next five or ten years the crypto economy will account for a greater percentage of Global GDP to allocate In this case, Bitcoin is referred to as digital gold.
The similarity of cryptocurrency with e-commerce
According to Armstrong, cryptocurrencies could follow a similar path to the adoption curve of e-commerce. In this regard, he added:
Ten years ago when I started Coinbase I thought it was too early, I still feel that way.
It will take decades for the global macro environment to view the crypto economy as a major financial event. E-commerce also went through a similar process in the last 20 years. This industry started in 1999-2000. People look at this as a side show. They were worried about the security of their assets. Now, after 20 years, e-commerce accounts for 15-20% of the world’s total GDP. The cryptocurrency economy will follow a similar path. That means we still have five to ten years to go.
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