Brian Armstrong, CEO of Coinbase, a US-based cryptocurrency exchange, gave daring projections for the cryptocurrency space at an event organized by TechCrunch.
In an on-stage interview at TechCrunch Disrupt, Armstrong predicted that the cryptocurrency ecosystem, which at the moment involves 40 million people will grow to accommodate 1 billion in the next 5 years. He also projected that there could be millions of cryptocurrencies in the future, according to a TechCrunch report.
This growth, Armstrong says, will stem from a growing interest in cryptocurrency by companies who he believes would create their own tokens. He explains:
“It makes sense that any company out there who has a cap table… should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens,”
At the event, Armstrong took out time to explain his organization’s plans in the cryptocurrency space. “We want to be the bridge all over the world where people come and they take fiat currency and they can get it into these different cryptocurrencies,” he stated.
Coinbase is popular as one of the most popular major platforms to exchange fiat for crypto. Although it currently lists only five cryptocurrencies namely Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Bitcoin Cash [BCH], and Ethereum Classic [ETC], the CEO says it could list hundreds or even millions of digital currencies in the coming years.
Going contrary to the general claim that regulatory uncertainty was hindering the growth of the cryptocurrency industry in the U.S., Armstrong would only admit that there is a “big open question” over the status of many tokens—if they would be classified as securities or not.