Coinbase CEO Brian Armstrong is detailing a new list of predictions for Bitcoin and the cryptocurrency industry at large.
Armstrong says he believes a billionaire Bitcoin “flippening” is coming that will boost science, tech, and charitable causes in the years ahead.
Writing in the Coinbase Blog, Armstrong says,
“Olaf Carlson-Wee and Balaji Srinivasan estimate that at a price of $200,000 per Bitcoin, more than half the world’s billionaires will be from cryptocurrency. Whether you think this is a good thing or a bad thing, it means there will be more pro-technology people with access to large amounts of capital in the 2020s.
Presumably, this will increase the amount of investment made in science and technology, and I think we’ll see more crypto folks turn to philanthropy.”
The crypto exchange head also makes several other predictions about where he sees the digital asset space going in the coming years. Key insights include:
- “Governments and institutions will move into the cryptocurrency space in a big way” by creating central bank digital currencies (CBDCs).
- Privacy concerns will mirror how the internet moved from HTTP to secure HTTPS gateway protocols.
- Marketplaces will mature while decentralized finance (DeFi) grows independently.
Armstrong notes an important pivot away from speculation toward useful applications in people’s everyday lives.
“By shifting cryptocurrency from being primarily about trading and speculation to being about real-world utility, the 2020s will see a huge increase in the number of people holding and using cryptocurrency, and start to really move the needle on global economic freedom.”