"Cryptocurrencies will weigh 15% of global GDP": the boss of Coinbase sure of his fact

“Cryptocurrencies will weigh 15% of global GDP”: the boss of Coinbase sure of his fact

Solid confidence in the future – While all the LEDs are on red on the financial markets and that some are predicting the start of thecrypto winter, we can hear some dissonant voices. El Salvador is even currently organizing a meeting with 44 representatives of countries or central banks to discuss the benefits of Bitcoin and cryptocurrencies. Far from the Coué method, it is above all a question of taking a step back and considering things with a little perspective. It is to this exercise that the CEO of Coinbase this week when his company is heckled by the recent fall in prices. Review and Prospects.

Cryptocurrency giants suffering in 2022…

the business international has its little habits and little traditions. The earnings call are part of. It’s a conference call which brings together the managers of a company, its investors, analysts and journalists. All to discuss financial results of the company in question, and rather on a quarterly basis. Americans talk about quarter-year – what comes back the same – hence the name quarterly.

These conferences are eagerly awaited by markets to anticipate or confirm a trend. But also by journalists who like to report the small sentences. Lately it’s Brian Armstrong – the CEO of Coinbase – who indulged in some thoughts and perspectives on the crypto market. Here are the best moments of Coinbase Q1 earning call.

First of all, he wished to underline the losses recent in his company. Turnover thus fell by 53% compared to the previous quarter, i.e. a net loss of 430 million of dollars. All against a market backdrop where the total crypto market capitalization has lost 570 billion of dollars ! Or 33% in a few weeks. What to be damn worried about the future, right?

Coinbase CEO is quite confident for the future of the cryptocurrency industry

>> Do you also think that cryptocurrencies are here to stay? Join FTX (affiliate link) <<

…but the future looks bright according to their predictions!

Nay! Brian Armstrong is on the contrary we can no longer optimistic :

“I have never been so optimistic about my business. I think it’s really important to separate our current performance from the rest of the overall market (…) As the industry matures over time, we will become an increasingly profitable business. Whether the market is bullish or bearish, we will continue to build. »

It goes even further and projects itself into a future where cryptocurrencies – at large – will represent an important part of the economy world. He even attempts a comparison:

“In my mind, we are a bit like the beginning of the Internet, the birth of online commerce in the late 90s or even the beginning of 2000. Now, 20 years later, all this represents approximately 15% of the world’s GDP . (…) Maybe in 20 years the cryptocurrency economy will also represent something like 15% of the world’s GDP. »

And this unfailing optimism also affects the CEO of Cryto.com, Kris Marszalek. He recognizes that “We are going through very complicated days in crypto. But the biggest difference between 2018 and now is that no one questions the very survival of the industry. »

The CEO of Crypto.com joins that of Coinbase on the bright future of cryptocurrencies.  A little opium in these difficult times...
Publication of the CEO of Crypto.com – Source: Official Twitter

Some would say that these leaders have every interest in preaching the good word given their position. That they cannot be judges and parties of the same situation. In the meantime, when they imagined and created their companies, there were not many people to encourage them and not many people to believe in them either. without considering them as visionaries, we can still recognize in them a certain talent for anticipation and risk-taking. These great entrepreneurs are sometimes divisive people, but they definitely deserve some form of respect. As such, discover the portrait we have made of the charismatic CEO of Binance : Changpeng Zhao.

If the leaders of the main trading platforms are confident in the future of cryptocurrencies, you should be interested in it too! Take advantage that the market offers us the opportunity to invest at a lower cost. Sign up today on the FTX benchmark platform. You benefit from a lifetime reduction on your trading fees (affiliate link, see conditions on official website).

Leave a Comment

Your email address will not be published. Required fields are marked *