The boss of the world鈥檚 largest cryptocurrency exchange expects crypto to grow by more than a thousand times in the coming years.
Chinese-Canadian businessman Changpeng Zhao is the聽founder and CEO聽of Binance and a former future trading software developer who worked for the likes of the Tokyo Stock Exchange and Bloomberg before moving into blockchain development.
He only launched Binance last year after raising $15 million from an initial coin offering. In May of this year his fortune was estimated at a whopping $1.39bn from an almost standing start.
Responding to comments from Ethereum co-creator Vitalik Buterin that it is unrealistic to expect the price of cryptocurrencies to see 1,000-fold gains in the future, he said: 鈥淚 still disagree with this.
鈥淚 say crypto will absolutely grow 1000x and more. Just reaching the US Dollar market cap will give it close to 1000x 鈥� that鈥檚 just one currency with severely restricted use case 鈥� and the derivatives market is so much bigger.鈥�
He added: 鈥淵ou also can鈥檛 use traditional market size to measure potential for new technologies or industries. If you used 鈥� and people have 鈥� taxi market size to estimate Uber鈥檚 potential, you would be off by quite a bit.鈥�
Buterin stated recently: 鈥淭he blockchain space is getting to the point where there鈥檚 a ceiling in sight.
鈥淚f you talk to the average educated person at this point, they probably have heard of聽blockchain at least once.
鈥淭here isn鈥檛 an opportunity for yet another 1,000-times growth in anything in the space anymore.鈥�