• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
USD-pegged Stablecoin
Advertisement

Top Venture Capitalist Says Cryptocurrencies Could be Worth Trillions of Dollars

Jeff Francis by Jeff Francis
5 years ago
in News, Altcoin Price, Bitcoin Price, Conferences and Meetings, News teaser
0
Advertisement

The total value of all cryptocurrencies currently sits at around $300 billion, but venture capitalist Albert Wenger believes that it could eventually be worth trillions of dollars.


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.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

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:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

If you look at (the) Amazon stock chart, it looks like this massive upward sloping curve. But then if you zoom in you see in the beginning there was this very quick run up and then this big drop off. So the way I look at this (cryptocurrencies) is when we look back at it from far in the future, it will be a very massive run up. The current run up could turn out to be a blip on that chart.

So I think it’s you know, once you reach the territory we are in today, there’s definitely a way for it to go down. And there’s definitely also a path in the future where, cryptocurrency as a whole will be worth trillions of dollars.

Bitcoin Prices Shake Off Gossip to Continue Highs

Overall, this is an interesting perspective from a widely respected venture capitalist, and his Amazon reference could be spot-on. Albert Wenger was an angel investor to Etsy and Tumblr, and Union Square Ventures has invested in a number of blockchain startups.

Wenger is not alone in being bullish on cryptocurrency. Ronnie Moas of Standpoint Research told CNBC he expects Bitcoin to be worth at least a trillion dollars in a few years. Hedge fund manager Michael Novogratz said that the market cap of cryptocurrency could be $2 trillion by the end of 2018. Of course, there are still the naysayers, like Jamie Dimon, the CEO of JPMorgan Chase, who believes that Bitcoin is a fraud.

Do you agree with venture capitalist Albert Wenger that the market cap for cryptocurrency could one day be trillions of dollars? Or will digital currency eventually crash and burn? Let us know in the comments below.


Images courtesy of Flickr, Pixabay, and Bitcoinist archives.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Jeff Francis

Jeff Francis

Related Posts

50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

5 hours ago
bitcoin S&p 500

Why The S&P 500 Could Help Send Bitcoin Soaring Higher

3 days ago
Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

1 week ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

2 weeks ago
Hong Kong Flag

Hong Kong to Limit Retail Investors’ Crypto Trading to Only ‘Highly Liquid’ Assets

2 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    11 hours ago
  • Hector Network launches its NFT marketplace on Fantom...

    11 hours ago
  • Fantom (FTM) launches ecosystem vault to finance dApp...

    11 hours ago
  • Esports Driving the Advancement of Cryptocurrency in Sports...

    1 day ago
  • Connecting the dots on $PAW. Is Ryoshi back?

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.