Tim Draper, the venture capitalist investor, made a prediction that crypto capitalization will hit over $80 trillion in the next decade and a half, as reported by DealStreetAsia.
Draper spoke that the PE-VC Summit 2018 hosted by the same news outlet in Singapore and argued that the slide in the market in recent months is because people who haven’t adopted digital currencies yet as a new asset. He said that once people become familiar with it, it would transform industries worldwide.
He then talks about the current state of the market versus the early days of the Internet:
“I think it’s going to have such a transformative effect on industries that we never even imagined would be transformable. The internet went after industries that were $10–100 billion dollar markets, cryptocurrency will go after trillion dollar markets — these are finance, healthcare and insurance, banking and investment banking, and governments.”
Brian Kelly of CNBC’s Fast Money also compared crypto to the ‘net in the 80s and pointed out that BTC is still in very early stages of adoption and development. Kelly asl said he used to see crypto as comparable to the ‘net in 1995 and now he has a better understanding:
“The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here (with Bitcoin).”
“I think this technology is going to work, it’s going to be game-changing, but it’s very early days, so we can have this massive volatility.”
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