Meta Digest

Jihan Wu, Former CEO of Bitmain, Said that Crypto Market Cap Will Continue to Rise to Over Trillions of Dollars

Source: Fortune

Jihan Wu, Bitcoin billionaire and former Bitmain CEO, assumes that the crypto market capitalization will progressively increase to over trillions of dollars. 

One of the initial adopters of Bitcoin and founding father of Bitmain, a crypto mining rig manufacturer, Wu claimed that the market’s development would keep on thriving in spite of its inclination to volatility. He further explained that despite the possibility that 95% of the coins currently on the market will no longer possess its value and vanish, the surviving programs will “grow massively.” 

Following his exit to Bitmain, Wu ended up finding Matrixport, a financial services firm, in 2019, even with crypto markets experiencing extensive bear market. As of recent, the company is at a $1 billion valuation in its most recent funding round. 

Wu has a positive opinion about the future of cryptoassets. “We believed that crypto and blockchain together would experience rapid growth in the future to tens of trillions of dollars,” he said in an interview. 

Wu said a large portion of the influx of new users will “stay in the crypto market forever,” creating a necessity for advanced and sophisticated products in order to manage their wealth. He argued that crypto, unlike the traditional financial system, was free to continue to develop unique innovations due to the lack of constraints. 

Wu has stated that a huge lump of the influx of new users will “stay in the crypto market forever,” generating an essential for evolved and elegant products in order to oversee their riches. He justified that unlike the conventional financial system, crypto has the freedom to carry on the development of rare innovations since it has little to no restrictions. 

“Innovations like DeFi are breathtaking. Technologies like crypto and blockchain have created a new world, allowing fintech entrepreneurs to make big achievements. Eventually, traditional financial institutions and regulators will embrace blockchain technology,” he added.

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