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Tim Draper, a leading capitalist and cryptocurrency supporter, exposed his prognosis on the cryptocurrency market during the DealStreetAsia PE-VC summit in Singapore last Wednesday, forecasting a rebound to $ 80 trillion by the US. here 15 years.
The revolution
The famous investor thinks that the blockchain and the crypto-currencies will "have such a transformative effect on the industries that we would never have imagined to be able to transform".
Like many investors before him, Draper compares the potential of this industry to the Internet boom in the '90s. The Internet, in turn, has been compared to the telegraph, railroad and telephone industry. 39, automobile at the time. Nobody thought that industries as diverse as agriculture, for example, would adopt the Internet.
Crypto-currencies are also likely to revolutionize some markets with unexpected billions of dollars, such as finance, health or governance. (Yes, agriculture too.)
Peaks and valleys
Continuing the analogy between crypto-currencies and the Internet, Draper pointed out that the Internet market had seen similar downward movements at its inception. Nevertheless, each crash was followed by an even bigger wave.
"Internet started in the same way, it came in big waves and then it broke down, then the next wave is concentrated but much bigger, and I think the same thing will happen here (with bitcoin)" were Draper's own words, according to Deal Street Asia.
In fact, the investor has risked saying on previous occasions that the technology behind the cryptocurrency "is bigger than the Internet" or any other technological or economic revolution – and it's not the only one. Other experienced investors, familiar with the Internet boom, such as Brian Kelly, also believe that cryptocurrencies are an opportunity not to be missed, just like Microsoft in the 1980s.
The wave
Eighty billion dollars is a big issue, especially when you talk about a fragile market that currently holds only $ 200 billion.
What is underlying Draper's prediction? Perhaps the investor anticipates that cryptomurrencies will be hype, as will the internet in the 2000s:
According to data shared by Internet World Stats, worldwide internet usage has been multiplied by more than 100 over the same 15-year period, between 1995 and 2010. Even though cryptocurrency n & # 39; is not suitable for economic forecasting The adoption is expected to be multiplied by 100 over the next 15 years – about 4 million people currently use Bitcoin – we can only imagine what the market would look like cryptocurrency.
Here are the statistics of the most famous Internet giant, for comparison purposes only:
What do you think of Tim Draper's $ 80 trillion market capitalization forecast? Let us know in the comments below!
Images are courtesy of Shutterstock, PCWorld and Statista.com.
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