Coinbase (NASDAQ:COIN) CEO Brian Armstrong has made a prediction about the future of cryptocurrencies such as Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH). Armstrong claims that if the current growth rate persists, there could be two to three billion people using cryptocurrencies within a decade.
Good point. There is actually quite a lot of usage beyond speculation also.
And getting 2-300m people who’ve tried crypto in a decade is really good. If this growth rate continues, will be 2-3b in 10 years, roughly similar to internet adoption.
Key unlocks will be scalability… https://t.co/6g6NMTrWeu
— Brian Armstrong 🛡️ (@brian_armstrong) April 17, 2023
What has happened to cryptocurrencies?
On Monday, Brian Armstrong retweeted a thread by Goldfinch CEO Blake West, who expressed frustration with people dismissing cryptocurrencies because they see them as useless.
Armstrong stressed the importance of attracting more people to the world of cryptocurrencies and stated that, if the current growth rate continues, we could see two to three billion people adopt cryptocurrencies over the next decade.
He drew a comparison to the early days of the Internet: initial uptake was slow, but over time usage skyrocketed. “Unlocking keys will mean scalability at layer 2 (like going from dial-up to broadband) and regulatory clarity. Also usability.”
Bitcoin price movements
At press time, BTC was down 1.79% in the past 24 hours and was trading at $29,467, according to Benzinga Pro.