Despite the rather gloomy condition of the cryptocurrency market since the start of 2022, Armstong remains bullish on its future development. At the conference, he predicted that within a decade, a billion people will have jumped into the digital asset ecosystem: “My guess is that in 10-20 years, we will see a substantial part of GDP being produced in the crypto economy.”
Considering the growth in new cryptocurrency users in the past year, Armstrong’s prediction sounds logical. During the first six months of 2021, the number of people involved in the market more than doubled, reaching more than 220 million individuals.
However, it is worth noting that during this time period, the prices of bitcoin and most altcoins hit all-time highs quite frequently. For example, the top cryptocurrency topped $60,000 in April 2021, which is more than 50% of its current dollar valuation.
The CEO of Ark Invest, Cathie Wood, also spoke at the conference. She argued that currency companies could lose their skilled employees if they don’t embrace the DeFi sector: “In the case of DeFi and the next-gen internet, we’re seeing a lot of financial companies losing talent to cryptocurrencies. So They have to take it seriously, or else they’re going to be left empty.”
Source: Ambito
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