Nigel Green, CEO of deVere Group, one of the world’s leading independent financial advisory organizations, has predicted a growth in the crypto market of over 5,000% in the next 10 years.
Green puts this down to an acceleration in the mass adoption of cryptocurrencies over this period which he claims is close to what he describes as a “true global breakout”.
One factor of this new crypto gold rush, Green suggests, is the diminishing status of Bitcoin in the next ten years, which he feels will lose some of its current impetus due to the growth in the rest of the market. He commented:
“However, while I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organizations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”
That said, he feels that in the short-term, FOMO or the fear of missing out will still be a major driver to Bitcoin adoption. On the eve of Bitcoin’s 10th birthday, Green is giving credit where its due, arguing:
“Bitcoin is what kick-started the crypto revolution and it has changed the way the world makes transactions, does business, and manages assets, among other things, forever. It all began with Bitcoin.”
In more a more radical statement about the future of money, whether digital or otherwise, German-Finnish internet entrepreneur Kim Dotcom and Irwin M Stelzer of the non-profit think tank the Hudson Institute are predicting the fall of fiat, but not in a decade, much sooner than that, suggesting:
“The pyramid game is coming to an end… crypto and precious metals will go up when everything else falls. I think it’s going to happen in the next two years.”
Stelzer proposes a scenario where the US dollar could even be on the verge of collapse due to current levels of debt and a multiple trillion-dollar printing program, adding, “If unlimited borrowing, financed by printing money, were a path to prosperity, then Venezuela and Zimbabwe would be top of the growth tables.”
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