Venture investor Tim Draper has predicted that the total market capitalization of cryptocurrency will reach $ 80 trillion over the next 15 years, DealStreetAsia reported on September 14th.
Speaking at the PE-VC summit of DealStreetAsia 2018 in Singapore, Draper argued that the significant slippage of the cryptocurrency market in recent months is attributed to people who have not adopted digital currencies as a new asset class. Draper said that once people become more familiar with technology, it would transform many important industries globally:
"I think it will have such a transformative effect on industries that we would never have imagined would have been transformable. gone after industries that were $ 10-100 billion dollars, cryptocurrency will go after billions of dollars markets: these are finance, health and insurance, banks and bank investments and governments. "
In January 2018, Barron reported that the L & Russell 3000 index – which represents 98.5 percent of the entire US stock market – was worth $ 30 trillion. The "staggering" amount of money followed a successful year in 2017, when the market recorded a return of 22%.
Draper also compared the current state of the encrypted market with the early days of the Internet, saying:
The Internet started the same way, it arrived in big waves and then it came down to precipice, and then the Next wave is concentrated but much bigger, and I suspect the same thing will go on here (with Bitcoin). " Brian Kelly of CNBC's Fast Money likened the cryptocurrency to" the Internet in the 80s, "pointing out that Bitcoin (BTC) is still in its early stages." Kelly asserted that while he saw cryptography as comparable to Internet in 1995, now understands that a better comparison is more backward, he added:
"I think this technology will work, it will change the game, but it is very early, so we can have this huge volatility."
press, the total capitalization of the cryptographic market is about $ 202 billion, according to CoinMarketCap.