In a recent blog post released by Brian Armstrong, the CEO Coinbase, of one of the largest cryptocurrency exchanges in the market, he shared curious information on the number of millionaires there would be in the world if Bitcoin reaches $200,000. At the same time, he has also shared other things that could happen to the cryptocurrency market this year.
Bitcoin Number of Millionaires
Brian Armstrong explained that Olaf Carlson-Wee and Balaji Srinivasan consider that if Bitcoin reaches a price of $200,000 per coin, more than half the world’s billionaires will be from cryptocurrency.
He explains that more pro-technology people will have access to large amounts of capital, which will certainly be positive for the cryptocurrency market. However, he didn’t say whether this is going to happen in 2020. Nonetheless, he left the door open for it to happen in the future.
Regarding the influence that this could have in the market, Armstrong said:
“Presumably, this will increase the amount of investment made in science and technology, and I think we’ll also see more crypto folks turn to philanthropy (we’ve seen this already with the efforts like the Pineapple fund, GiveCrypto-org and the GivingPledge).”
About decentralization and privacy improvements, he commented that when you place your funds in cryptocurrencies you will have access to a ‘magical place of innovation’ that is purely crypto-to-crypto. In this way, decentralized exchanges, non-custodial wallets and Decentralized Finance (DeFi) will continue to expand in the future.
Regarding privacy coins, he said that they will have more adoption and that there will be greater privacy. This is partially true considering that Litecoin (LTC) and Tron (TRX) are working in order to offer privacy solution to individuals in the market. Litecoin is working in order to add MimbleWimble through extension blocks.
Meanwhile, the decentralized crypto economy will continue moving forward with decentralized identity and reputation scores that are associated with these individuals identities. More people will also earn a living in the digital currency space and find new opportunities that would help the world move into the crypto market.
Finally, he stated that there may be central banks that could implement their own digital currencies. Moreover, he thinks that there will be a basket of digital currencies which would be created by a consortium such as Libra or CENTRE and even the International Monetary Fund (IMF) itself.