Binance CEO Changpeng Zhao said that cryptocurrencies could grow a thousand times in the future. Earlier this week, Vitalik Buterin said that while the cryptocurrency industry as a whole could grow a thousandfold, it would be foolish to expect the price of cryptocurrencies to grow at a similar rate in the future.
"The blockchain field is approaching a point where its boundaries are already visible. If you talk to the average educated person, you will probably know that he has heard of blockchain at least once. You should not expect the value of elements of this industry to increase a thousand times."
The cryptocurrency sector experienced a record growth rate to date in 2017, when the largest cryptocurrencies increased in value from 30 to 500 times a year. At that time, large markets such as Japan and South Korea showed a high level of speculation and interest in the industry, which ultimately pushed the price of Bitcoin on South Korean exchanges to $24,000.
Buterin expressed doubts that capitalization The cryptocurrency market could grow from $200 billion to $200 trillion, which is equal to 70% of the world's supply of monetary assets, as this means that cryptocurrencies will prevail over fiat currencies and work as the main means of payment.
However, Zhao argues that the cryptocurrency market in the long term “obviously has the opportunity” to grow a thousandfold as major digital assets like Bitcoin and Ethereum begin to gain popularity.
He said:
“I still don’t agree with Buterin’s point of view. I will say this - cryptocurrencies will grow a thousand times or more! Having reached the capitalization of the dollar, cryptocurrencies will already exceed a thousand-fold growth, and the derivatives market is much more extensive.”
Having reached $200 trillion, cryptocurrencies will be used as the main form of payment. Every merchant in the world will prefer cryptocurrency to cash and card payments, rich people will hold millions of dollars in cryptocurrency in their accounts, and banks will no longer deal with fiat, but with digital assets.
A thousandfold increase in the price of cryptocurrencies is unlikely. However, many investors believe in such an outcome, and Changpeng Zhao is one of them.
According to ccn.com
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