$1 trillion. Yes, let me say it again; $1 TRILLION. That’s the cryptocurrecy valuation prediction from Kraken CEO Jesse Powell. And he should know something since Kraken is one of the top digital currency exchanges in the world. No matter that there was just recently a sharp selloff (buying opportunity?), Jesse sees an acceleration of growth as the year goes on. One of the big reasons comes from the fact that more and more universities offer crypto programs and those graduates with crypto degrees will become BIG players (JP Morgan?) as institutions get more involved. And, of course, regulations WILL be enacted that will further legitimize the new asset classes. Yahoo, here we come $1 trillion.
(Bill Taylor/Founding Editor)
- “Jesse Powell, founder and CEO of Kraken, said Tuesday that the cryptocurrency market would continue to see an “acceleration” of growth.
- Asked whether he thought the market capitalization of all cryptocurrencies would hit the $1 trillion mark in 2018, Powell agreed.
The entire cryptocurrency market will reach a total value of $1 trillion this year, according to the chief executive of a top digital currency exchange.
Jesse Powell, founder and CEO of Kraken, said Tuesday that the cryptocurrency market would continue to see an “acceleration” of growth — despite a sharp pullback in recent weeks.
He told CNBC: “You’ve got a lot more kids graduating from crypto programs at universities now. I think we’re just going to see it continue exponentially from here.”
Asked whether he thought the market capitalization of all cryptocurrencies would hit the $1 trillion mark in 2018, Powell agreed.
The current market cap of all cryptocurrencies stands at around $417 billion, according to data from industry website CoinMarketCap. It hit an all-time high of more than $800 billion in early January, before falling dramatically as a result of a huge cryptocurrency sell-off.
Traders have been weary of regulatory signals recently as government ministers in South Korea and India have both upped their rhetoric against virtual currencies…”