The cryptocurrency market currently has millions of users, but the CEO of Pantera Capital believes the number will grow massively by 2027.
Pantera CEO Dan Morehead told TNZT in an interview on Wednesday that he believes the cryptocurrency market will hit billions of users in the coming years.
“The most important thing to keep in mind is: #crypto is such a disruptive thing that will change so many aspects of our lives in the next decade,” says @dan_pantera. “We are all used to #bitcoin as a proxy for blockchain, there are hundreds of really interesting projects.” pic.twitter.com/Bt6e1UFF6t
— Squawk Box (@SquawkCNBC) September 21, 2022
Recent Statistics show that there are over 300 million people in the cryptocurrency space right now.
However, Morehead said he is confident the market will grow to billions of users in the next five years. His prediction comes despite the bearish trend in the cryptocurrency market since the beginning of the year. Morehead said;
“Hundreds of millions of people are using blockchain today. I think in four or five years it will be literally billions of people.”
Morehead maintains its bullish stance on Bitcoin and the broader cryptocurrency market. He said;
“I can easily see a world in a few years where risky assets themselves are still struggling, but blockchain is back to record highs.”
The performance of the crypto market in recent months has been in line with that of traditional financial markets. As a result, the crypto market lost more than 60% of its value, with its total market cap dropping from its all-time high of $3 trillion to below $1 trillion at the time of writing.
Morehead predicted that the cryptocurrency asset class could lose its close correlation with other markets in the future.
He told TNZT that he believes crypto is such a disruptive asset class that it would change several aspects of our lives. Morehead added that cryptocurrencies would play a vital role in our lives for decades to come, shaping the way we look at finance and various other aspects of the global economy.
Bitcoin continues to trade below $19k after losing less than 1% of its value in the past 24 hours.