The CTO of one of the largest companies in the crypto space, Coinbase, has tweeted his optimistic views towards cryptocurrencies yesterday. Balaji Srinivasan’s tweet was aimed at the 63% of the adults in the world who own smartphones, and 8% of those being in the US, who are apparently all part of a 60 times larger user base.
According to some, the crypto market is inevitable than many think. As one Twitter user mentioned, it makes sense for people to hold onto their crypto assets for the long run – instead of selling them at low prices.
However, there are many people who are questioning what the CTO of Coinbase said about the 8% of all smartphone owners holding cryptocurrencies – as well as his opinion on the link between smartphone owners and cryptocurrency adoption.
You can find the original tweet by Srinivasan below:
About 8% of Americans hold crypto and probably <1% of the world. By contrast, about 63% of world adults own smartphones. So that’s >60X growth remaining for crypto in terms of userbase size. It’s all just getting started.
[2] https://t.co/0TQicQYDPt https://t.co/RdUWu5Nldo
— Balaji S. Srinivasan (@balajis) July 11, 2018
What’s interesting from this survey is that among the Americans who haven’t purchased crypto yet, more than 7% plan to do that in the future. The reasons for not purchasing (so far) include the riskiness of the market, potential scam opportunities and ‘the waiting time for the bubble to burst’.
Srinivasan, on the other hand, is well-known for causing Twitter storms. In 2016, he tweeted that private blockchain consortiums could be limiting blockchain adoption because their main purpose was “to bring together actors who are naturally distrustful.”
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