The cryptocurrency industry has been growing without a stop. From being closely linked to the dark web to being employed by governments across the globe, the ecosystem is progressing by the day. Several have been pushing the US government to take charge and include top assets like Bitcoin (BTC) in its reserve. Amidst this, Coinbase’s CEO Brian Armstrong highlighted a bullish possibility of crypto powering a notable portion of the global economy in the next few years.
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Crypto & Its Potential
According to Coinbase’s CEO, the US is witnessing the “dawn of a new era for crypto.” He also forecasts that by 2030, up to 10% of the world’s GDP will depend on cryptocurrency. Armstrong stated at Coinbase’s fourth-quarter 2024 earnings call on February 13 that “up to 10% of global GDP could be running on crypto rails by the end of this decade.”
During the call, the CEO made a comparison between the early 2000s, when all businesses had to find out how to adapt to the internet. He noted that the present wave of businesses is attempting to embrace cryptocurrency.
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He further noted how the US could lead the way. Armstrong pointed out that the US currently accounts for 30% of the world’s GDP. The CEO believes that the US currently has the “most pro-crypto Congress” the firm has ever seen, and it is spearheading the push for laws pertaining to stablecoins and market structure, which the rest of the world will eventually adopt. He added,
“President Trump is moving fast to fulfill his promise of making the US the crypto capital of the planet.”
How Much Does The Industry Need To Grow To Achieve This Goal?
Data from the World Bank reveals that if Armstrong’s forecast comes true, more than $10 trillion worth of value would be tokenized or on-chain, based on the current global GDP of over $100 trillion. Currently, the global crypto market is worth $3.2 trillion. Bitcoin accounts for $1.92 trillion of the total market cap.
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