Venture investor Tim Draper, said in an interview for DealStreetAsia that the total capitalization of the cryptocurrency market will reach 80 trillion dollars in the next 15 years.
Speaking at the summit DealStreetAsia PE-VC Summit 2018 in Singapore, Draper said that the significant downturn in the cryptocurrency market in recent months due to the fact that many still have not adopted digital currencies as a new asset class. Draper said that when people get acquainted with this technology, it transformerait a globally important region:
I think it will have a transformative effect on industries, which we did not even know that they can transform. The Internet has changed markets in the 10-100 billion dollars, cryptocurrency will go even further and take on the markets trillions of dollars is Finance, healthcare and insurance, banking and investment banking, as well as the state and management activities.
Draper also compared the current state of the cryptocurrency market since the beginning of the Internet, saying:
The Internet started in exactly the same way he went in big waves, and then collapsing, then came the next wave, but much more and I suspect the same thing will happen with cryptocurrencies.
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Brian Kelly from Fast Money CNBC also compared the cryptocurrency with the “Internet in the 1980-ies,” noting that bitcoin (BTC) is still at an early stage. Kelly argues that, although he had previously compared the cryptocurrency market with the Internet in 1995, he now understands that this market should be compared to the earlier years of Internet development:
I think that this technology will work, and it will radically change many areas, but it is at a very early stage of development, which is why we are seeing such volatility.