Within five years, the cryptocurrency market valuation is expected to surpass that of gold, according to Blockchain.com CEO Peter Smith. Smith’s forecasts are grounded in his vast knowledge of the cryptocurrency market.
In Smith’s estimation, it pales in comparison to the global financial markets and the gold market. He highlights the reduced market size as accurately represented by the circulating market cap. Smith believes that ten more years may be needed for the cryptocurrency financial ecosystem to realize its full potential.
According to Smith, in order to attain substantial scale and improve the industry’s reputation, more money and more effective marketing are required. He muses on the past of the sector, which was characterized by notable failures frequently brought on by greed.
Smith is upbeat but notes that complete integration is still a ways off. He thinks institutional products’ good performance will result in their broad acceptance. Though Smith acknowledges that more laws are needed for the U.S. markets, he projects a $9 trillion market cap for cryptocurrencies in the next five years. He emphasizes how political forces will shape the industry’s future and expresses optimism for more constructive frameworks.