According to Yat Siu, co-founder of the Hong Kong-based game software company and venture capital firm Animoca Brands, the global cryptocurrency ecosystem is set for exponential growth in the coming years, with the potential to expand up to 200 times within a decade.
Currently valued at approximately $2.7 trillion, the cryptocurrency market could soon double or triple, Siu predicted during the latest episode of The Valr Podcast on May 28. In his words:
“In the near term — within 12 to 18 months — we can anticipate a doubling or tripling of the market.”
Siu expressed strong confidence in the industry’s trajectory, suggesting that over a five to ten-year period, the market could expand 100 to 200 times its current size, potentially reaching $200 trillion or more.
This projected surge in value will be driven by the influx of billions of people becoming digital property owners within the Web3 ecosystem, Siu explained.
“It is entirely conceivable that we’re going to have a billion property owners because we’re going to have a billion token holders. This is not possible in the physical world,”
the executive added.
Siu also highlighted Asia’s emergence as the fastest-growing Web3 market, contrasting it with the slower progress in jurisdictions like the United States.
“Currently, Asia is the leading force in Web3,”
Siu noted, pointing to significant adoption in regions such as Southeast Asia, Hong Kong, and Japan.
“Typically, the West, particularly the United States, leads in technological advancements. However, in the Web3 space, it has fallen behind due to regulatory uncertainties. This has allowed Asia to take the lead, and I believe it will continue to do so.“
This is another entry in the list of long-term and bold Siu has made in recent months.
Notably, Siu predicted, in April 2024, that Bitcoin will eventually reach $1 million. Currently, Bitcoin is trading at $67,750, a value 14 times lower than Siu’s forecasted price.
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