For Jihan Wu, the former CEO of Bitmain, the future of cryptocurrency looks very bright and vibrant. 2021 has witnessed the wider acceptance of digital assets, which has been driven by broader institutional adoption.
Wu believes a massive growth awaits just at the corner. The co-founder and chairman of Matrixport highlighted that the global crypto market capitalization passed the $3 trillion mark. This was fueled by bitcoin, ethereum, altcoins, and meme coins hitting all-time highs.
But there were also lows such as bitcoin falling from $68,000 to below $30,000. The cryptocurrencies’ high volatility resounded calls from governments and critics to regulate the market, and safeguard investors and consumers.
Wu said that even if the coins lose 95% of their value and disappear altogether, the remaining 5% will take control of the crypto market and steer it right. He believes cryptocurrency and blockchain technology have enormous potential for the world.
The billionaire businessman established and gave rise to Bitmain, Bitdeer Technologies, and Matrixport. Bitdeer has about 100,000 mining rigs and Matrixport offers crypto-related services such as trading, custody, and lending.
Wu is also very much optimistic about the decentralized finance space (DeFi), especially non-fungible tokens (NFTs). Wu says such innovation is here to stay for a very long time. He believes technologies powering cryptocurrencies and fintech has created a whole new world. In regards to acceptance, Wu says a day will come when governments, central banks, financial institutions and regulators will embrace cryptocurrencies and NFTs.