The economic, not to mention societal, impact of cryptocurrency cannot be denied. Individuals from across the globe are turning to decentralized digital currency for numerous reasons, such as investment, ease of transactions, anonymity, lack of bank access, or sheer need. It seems every new week brings a new high to Bitcoin and other cryptocurrencies, and the total value of all cryptocurrencies is now around $300 billion. However, one of the top venture capitalists, Albert Wenger of Union Square Ventures, says that cryptocurrencies could eventually be worth trillions of dollars.
Is the Future of Cryptocurrency Rosy?
At the Slush technology conference in Helsinki, Finland, Wenger made a number of remarks to CNBC. He said that there’s a lot of “irrational exuberance” in the cryptocurrency market right now (as seen by the recent dips and surges), but he believes that the total value of all the various digital currencies could go a lot higher in the future. He told CNBC that it’s too early to tell if digital currencies are in a bubble, and he added:
So I believe there’s a good chance that cryptocurrencies taken together as a bucket will be worth trillions of dollars. We are a long way from that.
Cryptocurrency Following in Amazon’s Footsteps?
An interesting note made by Albert Wenger was his reference to Amazon when discussing the long-term prospects of cryptocurrency. He said: […]