Home » Economy » Cryptocurrency pioneer: “The crypto market will grow to tens of trillions of dollars” December 26, 2021
25 dic 2021 11:54 GMT
Jihan Wu, founder of mining and financial services companies, revealed the reasons why he believes this sector will develop further.
The cryptocurrency market will expand to tens of trillions of dollars in the future as it experiences growth that will downplay currency fluctuations, says Chinese businessman Jihan Wu, who has been involved in the industry for a decade.
“Although 95% of the current currencies lose all their value and disappear, the remaining 5% will grow massively“, he claimed speaking to Forbes Asia, the founder and president of the financial services company Matrixportas well as the mining rig Bitdeer Technologies, located in Singapore.
The businessman remembers the launch of Matrixport, a firm of investment products in crypto assets valued at $ 1 billion in February 2019, when bitcoin was still down.
“We believed that cryptocurrencies and the blockchain will experience a fast growth in the future to tens of trillions of dollars, “said Wu.” Many of these new users will stay in the cryptocurrency market forever, so they will need advanced and sophisticated products to manage wealth that accumulate in crypto assets, “he explained.
Despite the regulatory uncertainty that surrounds the market in many countries, the former executive director of Bitmain, supplier of mining equipment, believes that the industry will continue to develop unique innovations for not being subject to the restrictions of the conventional financial system.
“Innovations like DeFi [finanzas descentralizadas] son awesome“, he assured, to add that” technologies such as cryptocurrencies and the ‘blockchain’ have created a new world, which allows technology finance entrepreneurs to make great achievements. Over time, traditional financial institutions and regulators will adopt the technology ‘blockchain’ “.
Speaking at a miners’ conference last May, the businessman forecast the long-term growth of the industry describing it as “the greatest opportunity”. “Innovations in this industry can even outperform the internet itself“, he manifested.
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