The cryptocurrency market will grow to “tens of trillions of dollars,” and even if most of the digital assets disappear, the value of the rest will increase significantly. This was stated by the co-founder of Bitmain, and concurrently the head of Matrixport and Bitdeer Jihan Wu in an interview. Forbes…
“Even if 95% of existing coins are depreciated or disappear, the growth rate of the remaining 5% will be enormous,” he said.
Commenting on the founding of crypto finance company Matrixport in 2019, Wu noted that many of the new users will “stay in the market forever,” so they will need digital asset wealth management products.
Earlier, Matrixport raised $ 100 million in funding following the Series C round. Investors valued the company at more than $ 1 billion.
According to Wu, cryptocurrencies are “designed to be volatile.” He stressed that in the long term, the growth of their quotations “will significantly exceed price fluctuations.”
The billionaire also noted the development of the decentralized finance sector and stated that traditional market players and regulators will eventually adopt blockchain technology.
“Innovations like DeFi are breathtaking. Cryptocurrencies and blockchain have created a new world, enabling fintech entrepreneurs to achieve great success. Over time, traditional financial institutions and regulators will adopt blockchain technology, ”Wu said.
As a reminder, in November Bitdeer announced a merger with SPAC Blue Safari Group Acquisition Corp. The mining service provider was valued at $ 4 billion.
