Coinbase CEO Brian Armstrong Makes Big Crypto Predictions As BlackRock and Meta Enter Space
The head of the largest cryptocurrency exchange in the US is sharing his thoughts on the present and future of the industry.
In a new interview with CNBC's Crypto World, Coinbase CEO Brian Armstrong told host Kate Rooney that he believes Big Tech companies like BlackRock and Meta will both be on the stage. the Internet's next electronic money offering.
“We want every company in the world to integrate into crypto. It's like saying we want every company to have an internet presence or use the internet in some way. Even if they are not an internet company, they will either have a home page or be able to acquire new customers through the internet or accept payments.
Cryptocurrencies are the same way. I think Big Tech will have a role there. We are seeing companies like BlackRock, the largest asset manager out there, now integrating with Coinbase. Meta is another great example.
It shows me that we can really win, not only the large retail customer segment, but also can win deals with the biggest companies in the world like Coinbase . That's really good for our future. When it comes to the crypto winter that has plagued the industry since late last year, the tech entrepreneur expects to see a change sometime before mid-2023.
“Obviously we're in a down cycle, but that's not unusual for us. We've been through four cycles like this as a company, and we're only 10 years old.
This just happens to coincide with the broader macro environment going down. We're all hoping for 12, 18 months and [then a] nice recovery, but obviously you have to plan for longer than that. We're not trying to be too cute about predicting the future. "
Armstrong added that Coinbase remains focused on long-term goals rather than price-chart movements. , that is, "It's never as good as it seems. It's never been as bad as people think. “
I think one of the reasons why Coinbase has been so successful over the past 10 years is that we try not to focus on the short-term ups and downs. We just need to zoom out and think about, ‘5, 10 years from now, will more people be using crypto? Maybe. Is the Internet more widely distributed? Maybe. Will there be more e-commerce and more digital payments? '
These are all in line with long-term trends. If we don't get distracted and keep building great products, we'll do just fine in the next 5 or 10 years. The CEO concluded by saying that he is encouraged by the staking expansion that is improving the crypto space, especially projects like Ethereum (ETH), Polygon (MATIC) , Optimism (OP) and Solana (SOL)
“[Security] is very important in making these blockchains more scalable. We are seeing Ethereum getting closer and closer to Consolidation, is upgrading to Ethereum 2.0 and it will be a nice step on the journey to upgrade [and] get more scalability from Ethereum
We are seeing that with other blockchains as well. Network has been really great moving in that direction. We're seeing good things with layer 2 solutions [like] Polygon, Arbitrum and Optimism. Solana is also doing a great job at scaling, so all have good progress in staking.”
Aug 25, 2022
