Brian Amstrong, CEO of Coinbase, the world’s biggest cryptocurrency exchange, estimated during a speech at the Milken Institute Worldwide Conference in New York City that there would be 1 billion bitcoin users worldwide by 2032, which was the first to publish the news. Coinbase is the largest place to buy and sell cryptocurrency in the world. You can check the Bitcoin Profit to learn more about bitcoin trading.
After that, he said that blockchain technology, non-fungible tokens (NFTs), and the cryptocurrency industry as a whole will be very important for the economic growth of the United States over the next few years.
Armstrong is said to have said during the event, “In 10 to 20 years, the crypto economy will make up a large part of GDP.” It has been used for a long time as a reliable measure of a country’s economic health and a way to compare the economies of different countries.
This is because it shows a country’s ability to make and sell finished goods and products on the world market.
The total market value of the cryptocurrency sector was $1.83 trillion. This is a 38 percent drop from November 8, 2021, when it was worth $3.08 trillion, which was its all-time high.
The CEO of the bitcoin exchange Coinbase, Jeremy Allaire, thinks that putting rules on cryptocurrencies is a good idea.
The study’s results showed that policy experts and lawmakers in the nation’s capital agreed with Armstrong’s optimistic prediction for the future of regulatory change. Armstrong worked on making cryptography rules easier to understand long before the Internet came along.
The author went on to say that in Washington, D.C., it’s getting harder to find a real skeptic of paranormal claims. Reports say that more than half of the people in Washington, DC now support cryptocurrency. The president’s official statement says that this is true.
In response to what Armstrong said, the Securities and Exchange Commission of the United States said something on Tuesday (SEC). The Securities and Exchange Commission is a group in charge of making rules for the stock and bond markets (SEC).
The Securities and Exchange Commission (SEC) said earlier this month that it was going to almost double the size of its enforcement division so that it could focus more on regulating cryptocurrency assets and trading platforms like Coinbase.
As a result of an executive order that Vice President Biden issued earlier this year, federal agencies that are analyzing and proposing changes to their different regulatory obligations will have to report their findings.
So, do you think the number of users will reach 1 billion?
If you take the data from 2021 and include it in the existing statistics, there is a probability that the total number of users will exceed 1 billion in a decade.
However, we must take into consideration the fact that the worst crash of the year happened only three days ago. In response to the events that had placed this month, the whole market dropped by 42.94 percent.
Furthermore, in many jurisdictions, cryptocurrencies have not yet been recognized as legal money or even as having legal standing.
Furthermore, with many other nations, like Russia and Indonesia, calling for a ban on crypto mining and declaring it haram, it becomes increasingly difficult to have trust in the feasibility of a crypto mining ban.
