Coinbase's billionaire CEO makes a prediction for Bitcoin. Will it come true?

 



Coinbase CEO Brian Armstrong has predicted that Bitcoin will become a "flight-to-safety" asset in the event of a problem within the next five to ten years.

In an episode of Coinbase's Around the Block podcast, titled "The State of Crypto and Where It's Headed with Pomp", he however stated that the market capitalization of the flagship cryptocurrency is not yet large enough to have this kind of function.  .

However, this could change in the next five or ten years, when the crypto-economy grows to become "a sufficiently large percentage of the global economy".  Only after that Bitcoin could be considered digital gold because that is what people are looking for when something goes wrong.

"I completely consider we'll see that change in all probability time. I can track down in the accompanying five or 10 years, when the crypto-economy transforms into a more prominent degree of overall GDP, people will take off and pivot to bitcoin like a kind of "new gold" if you can say exactly that, yet we're not there yet," said the head honcho.

Brian Armstrong noticed that he misjudged the possibilities of Bitcoin filling in as an expansion support in the ongoing large scale climate. "I figured it could really get more consideration regarding Bitcoin this sort of climate, yet it appears as though it's altogether too soon," he said.

Bitcoin neglects to go about as an expansion support

Bitcoin figured out how to acquire and more worth in 2021 as expansion began to get steam. Indeed, even a few top banks and financial backers have drifted the hypothesis that BTC goes about as a fence against expansion.

For example, Paul Tudor Jones, an American magnate shared reserves boss, told CNBC in mid-October 2021 that he considered Bitcoin an ideal extension wall over gold. "That would be my tendency over gold at the present time. Clearly there is a spot for crypto. Clearly it is proving to be the best in the race against gold as of now" , did he broadcast.

Likewise, JPMorgan strategists said around the completion of October last year that development concerns were behind Bitcoin's rising. 

                    they said. they communicated.

BTC neglected to keep up with its vertical pattern in 2022 in spite of record expansion figures. All things considered, Bitcoin broadened its misfortunes as additional national banks started bringing rates up with an end goal to tame expansion.

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