For all the cryptocurrency enthusiasts that are waiting for a new cryptocurrency expert analysis by our team, it’s finally time for an optimistic statement in regards to Bitcoin and every other altcoin – coming from the head of one of the largest exchanges out there.
The CEO of Binance, Changpeng Zhao (CZ), recently said that crypto still has room to grow by more than thousand times in the years to come, directly confronting the recent statement of Ethereum’s creator and co-founder, Vitalik Buterin.
According to CZ:
“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,”
While Buterin stated that the current valuation of the market is not realistic for the market to grow from $200 billion to $200 trillion, CZ argued that the market can “absolutely” grow by a thousand fold in the long-term, once major cryptocurrencies like Bitcoin and Ethereum reach mainstream adoption.
As CZ stated (when asked to comment on Buterin’s prediction):
“I still disagree with this. I will say ‘crypto will absolutely grow 1000x and more!’ Just reaching USD market cap will give it close to 1000x, (that’s just one currency with severely restricted use case), and the derivatives market is so much bigger.”
“You also can’t use traditional market size to measure potential for new technologies or industries. If you used (and people have) taxi market size to estimate Uber’s potential, you would be off by quite a bit.”
Right now, the confidence of CZ as well as other investors who are still backing cryptocurrencies is massive, which leads many investors to hold their earnings and wait for a new surge.
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