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During Coinbase’s Q4 2024 earnings call on February 13, CEO Brian Armstrong made an ambitious prediction that could reshape the global economy: crypto could contribute up to 10% of global GDP by the end of the decade. Armstrong’s bold forecast signals a new era for the crypto industry, as companies across the globe increasingly explore the integration of blockchain technology into their operations.
“If up to 10% of global GDP could be running on crypto rails by the end of this decade,” Armstrong said, highlighting the transformative potential of blockchain. Based on today’s global GDP of over $100 trillion, this would equate to more than $10 trillion in value moving onto blockchain networks.
Armstrong drew a parallel to the early 2000s when businesses had to adapt to the internet’s rise, suggesting that “Onchain is the new online.” This shift towards digital finance mirrors the rapid embrace of the internet, with crypto poised to become a central force in the digital economy.
Coinbase, reporting a robust $2.3 billion in Q4 revenue—up 88% from the previous quarter—plans to be at the forefront of this transformation. Armstrong emphasized that Coinbase would be the preferred partner for companies looking to build on blockchain infrastructure.
The U.S. is expected to lead this crypto revolution, with Armstrong pointing to the country’s favorable regulatory environment. He noted that the U.S. Congress is now “the most pro-crypto” it has ever been, especially with stablecoin and market structure regulations in progress. Armstrong also referred to efforts by former President Trump to make the U.S. the “crypto capital of the planet.”
With the backing of a pro-crypto Congress, Armstrong believes other nations will be compelled to follow the U.S. in embracing cryptocurrency adoption. As global interest in blockchain continues to accelerate, Coinbase aims to capitalize on this momentum by expanding its offerings and helping businesses harness the potential of crypto for the future.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
