What Do The Big Brains Think About The Possibilities

Vitalik Buterin, Creator Of Ethereum

“To be clear, I never said that there is ‘no room for growth’ in the crypto ecosystem. I said there is no room for 1000x price increases. A 1000x price increase from today means $200 trillion in crypto, or an entire 70 percent of today's global wealth being in crypto. What I actually said is that, because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from depth (i.e., actual usage) and not bringing in more attention.”

Changpeng Zhao, the CEO of Binance

“I still disagree with this. I will say ‘crypto will absolutely grow 1000x and more!’ Just reaching USD market cap will give it close to 1000x, (that's just one currency with severely restricted use case), and the derivatives market is so much bigger.
“You also can't use traditional market size to measure potential for new technologies or industries. If you used (and people have) taxi market size to estimate Uber's potential, you would be off by quite a bit.”

Garry Tan, a venture capitalist.

“My general sense is that it is possible but unlikely to be 1000x. Even if it did get there, you would be assuming securitization using security tokens, which isn’t exactly what speculators have in mind when they are hoping for more 1000x situations. They are generally thinking that their worthless altcoins will somehow be worth 1000x and security tokens will merely represent ownership in real assets. It’s a strange nuance but one worth mentioning.”

Mike Novogratz, Institutional Investor.

“I think if you start seeing institutional LPs [limited partnerships] — like endowments, foundations, pension plans and sovereign wealth funds put capital into cryptocurrencies — you will see a tipping point where a percentage of world wealth starts flowing in. We are at the very earliest stages of that. Novogratz talks about the hordes coming, and I think that is correct. Crypto is still extremely driven by retail investors, but it’s staggering how much money is locked up in institutions.”
“Central banks are a whole other level, and I don’t really know if and when they might decide it is something they [will] use as a reserve currency. That would be super far in the future, [in] my sense. We need to go from [the] infrastructure phase to [the] application phase, and I think that is the main story for the next 18 months. It’s still the internet in 1994.”
“[Cryptocurrency] is a global revolution. The internet bubble was only a U.S. thing. It was rich U.S. people participating. [Cryptocurrency] is global. There are kids in Bangladesh buying coins. It is monstrous in Tokyo, in South Korea, in China, in India and in Russia. We’ve got a global market and a global mania. This will feel like a bubble when we’re at $20 trillion.”
“It won’t go there [$20 trillion] right away. What is going to happen is, one of these intrepid pension funds — somebody who is a market leader — is going to say, ‘You know what? we’ve got custody, Goldman Sachs is involved, [and] Bloomberg has an index I can track my performance against,’ and they’re going to buy. And all of the sudden, the second guy buys. The same FOMO that you saw in retail [will be demonstrated by institutional investors].”

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