The value of the cryptocurrency market has surpassed $3 trillion. The rise of institutional interest in bitcoin, as well as the introduction of decentralized finance (DeFi) and non-fungible tokens, has fueled cryptocurrency markets this year (NFTs).
Exponential Expansion for Crypto Markets!
Raoul Pal, a macro expert and the CEO of Real Vision, believes the crypto markets are on the verge of exponential expansion as the space experiences lightning-fast adoption.
Pal claims that crypto acceptance is happening at a higher rate than any other technology in an interview with RT Network’s Going Underground.
Currently, there are 150 million users of cryptocurrency. The annual adoption rate is 113 percent. It’s basically twice as fast as any other technology adoption in known history, so it’s moving at breakneck speed. Institutions, sovereign wealth funds, private investors from ETFs (exchange-traded funds), nation-states, and everyone else is moving into the market.
In response to regulatory worries, the former Goldman Sachs executive claims that the space’s sheer breadth and decentralized nature will make it nearly hard for regulators to properly manage it.
According to him,
This is one of a kind. This is a distributed network of owners from 150 million to a billion people around the world, thus their capacity to govern it is nearly nil. It’s a fascinating environment. It’s fundamentally anti-establishment, and it establishes a new world based on distributed ownership and provable ownership of assets that no one can tamper with.
Pal estimates that crypto markets will rise to a total worth of $200 trillion in the next decade, based on the scale of other traditional financial markets. TradingView estimates the overall crypto market cap to be $2.79 trillion at the time of writing.
He says that It’s a $2.5 trillion asset class right now.
Most main asset classes around the world, such as equities, bonds, and real estate, are worth between $150 trillion and $350 trillion, thus I believe this will rise to $200 trillion in the next ten years, representing a 100x increase in an asset class. It’s a once-in-a-lifetime opportunity for everyone, because everyone – the richest and poorest – may own 10% of their assets in this.
Original Source :coinpedia.org
Want to receive the latest stock and cryptocurrency news and investing ideas that can help you make money ?! Subscribe to our newsletter. Enter your email below and hit the subscribe button.
If you want professional consultation regarding stock or cryptocurrency investing leave your information below and experts from our trusted partners will reach out to you