In 20 years, Brian Armstrong, founder and CEO of Coinbase, said that cryptocurrencies would take 15% of global GDP.
He said that most companies would end up usingCryptocurrencies in the future, just like they had to adopt the internet.
The total market cap lost more than 33% of its volume in the last seven days, equalling $570 billion. The bear market is officially here, according to some. After the LUNA crisis, the overall market sentiment took a negative turn.
The Q 1 earnings report of Coinbase also showed a drop in numbers. Net revenue fell by 53% from the previous quarter, which indicated a net loss of $430 million. The bankruptcy wording was also included in the report, which caused red flags in the community.
During his speech at the Q 1 earnings call, Armstrong said something.
Despite the heavy conditions, the industry will triumph, according to Kris Marszalek, CEO ofCrypto.com.
While accepting that 95% of projects will wither, Terra co-founder Do Kwon agrees that the market will get back on its feet.
Armstrong is not the only one who holds on to their optimism. Armstrong could be right with his predictions for 20 years into the future, regardless of today's conditions.