The Next 10 Years: Crypto Market to Eclipse $20 Trillion as Bitcoin’s Influence Fades
It’s been 10 years since bitcoin creator Satoshi Nakamoto published his white paper on bitcoin, and the global economy hasn’t been the same since. The original cryptocurrency now boasts a market cap of more than $112 billion, while bitcoin’s dominance hovers at more than 53%.
But if you ask Nigel Green, founder and CEO of financial advisory firm deVere Group, which boasts $10 billion in AUM, the next 10 years will look a lot different than bitcoin’s first decade. He’s quick to attribute the “crypto revolution” to bitcoin, saying that it has changed the way money is transacted forever. Green’s outlook, however, is a mixed bag, with bitcoin’s “influence and dominance of the cryptocurrency sector” expected to “drastically reduce” while the value of the broader crypto market is poised to expand by 5,000%, which would attach a combined market cap of $20 trillion in the coming decade. Green stated in a press release:
“[While] I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organizations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”