Tim Draper: cryptocurrency market will grow to $80 trillion in the next 15 years

[alphaHome]

Tim Draper: cryptocurrency market will grow to $80 trillion in the next 15 years

The current situation in the blockchain industry is similar to the stage of the origin of the Internet, said venture investor Tim Draper at the Singapore summit. He believes that then, as now, in the cryptocurrency market, new technologies appeared in large waves, and sometimes it seemed that the industry has failed.

"Each wave was much larger than the previous one, the same thing is happening now with bitcoin," Draper said.

He noted that the blockchain will affect various industries. Cryptocurrencies will change the spheres of Finance, health care, insurance, investment and banking, as well as public administration, and these are trillion markets, the expert believes.

[Tipstar]

That's a 400 times the current marketcap. But it's not an impossible feast for cryptocurrency as 15 years is a long time. But the actions taken in favor or against of crypto by different sectors are going to highly influence the direction as crypto is just moulding.

[butka]

I'm not so sure about the various industries that are often quoted as being suitable for blockchain applications. I don't think all of them will benefit from the blockchain. You don't always need decentralized consensus. But I'm sure that they crypto-market cap will eventually reach the range of tens of trillions of dollars.

I believe the growth of the crypto market is inevitable. More and more investors are realizing the potential of bitcoin as perfect money. There are speculations that bitcoin may become a fractional reserve currency for the national states in one of the future waves of adoption.

As far as the alts are concerned, it's hard to tell. The question is how many of today's altcoins are still going to be alive in 15 years? Maybe 10 to 15 percent tops. There is simply no room for all of them.

[ivannalog814]

Tim Draper experienced person with extensive experience in the economy, I think that he is right because for 10 years of existence of bitcoin demand and volume has increased very many times and every year more and more people come to the market so that's a simple method the whole world will use kiptovolyutoy that will increase capitalization many times !

[beerlover]

I'm not so sure about the various industries that are often quoted as being suitable for blockchain applications. I don't think all of them will benefit from the blockchain. You don't always need decentralized consensus. But I'm sure that they crypto-market cap will eventually reach the range of tens of trillions of dollars.

I believe the growth of the crypto market is inevitable. More and more investors are realizing the potential of bitcoin as perfect money. There are speculations that bitcoin may become a fractional reserve currency for the national states in one of the future waves of adoption.

As far as the alts are concerned, it's hard to tell. The question is how many of today's altcoins are still going to be alive in 15 years? Maybe 10 to 15 percent tops. There is simply no room for all of them.

Right, the growth is certainly inevitable and there is nothing that would be stopping it. Blockchain technology is certainly here to stay and it is apparently the future and this is one technology everyone is already trying to be a part of, it may not affect every sector primarily.

But we both know it would affect a huge number of sectors in the long run and this simply shows that the more the sectors that this technology keeps penetrating, the more the growth of the cryptocurrency space. Therefore, experiencing a huge market capitalization in some years to come will not be surprising to me at all.

Also, as we keep seeing blockchain technology being implemented in various sectors, companies, organizations and the likes, the more we will get to see the space growing hugely and having a market cap as much as that would not be surprising at all. We are still new and here we are with the current market cap, imagine in few years to come what it would be like.

[butka]

But we both know it would affect a huge number of sectors in the long run and this simply shows that the more the sectors that this technology keeps penetrating, the more the growth of the cryptocurrency space. Therefore, experiencing a huge market capitalization in some years to come will not be surprising to me at all.

Yes, sure. I guess the word "blockchain" has become the newest buzzword. Today, I even heard it in a morning TV show, which was really the last place I would've ever expected to hear it. So yes, no question about it: this technology is going to penetrate many areas of our life. It remains to be seen, however, how many sectors will actually benefit from the blockchain. But, all thing considered, I also think market capitalization can only grow in the future.