Matrixport founder Jihan Wu believes the crypto area will swell to “ten trillion {dollars}”

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Seven months ago, in the first week of May, digital currency entrepreneur Jihan Wu said at a conference that he expected the crypto industry to overtake the unicorns. An interview with Wu was published this week and the billionaire said he believes the crypto and blockchain space will reach tens of trillion dollars in value.

Jihan Wu: “Crypto and blockchain will grow to several trillion dollars in the future”

The former CEO of Bitmain is no stranger to the cryptocurrency world as the pioneer has been in the industry for well over a decade. Jihan Wu founded the private company Bitmain Technologies Ltd. together with Micree Zhan in 2013.

Most recently, he heads the digital currency financial services company Matrixport, a startup that raised $ 100 million in August. Wu is a big believer in crypto and blockchain, and in May, Wu spoke at the second 421 Wet Season Festival and Mining Ecology Conference, saying:

In the long run, the blockchain industry is optimistic and offers the greatest opportunity. The innovations in this industry can even surpass the internet itself.

The founder of Matrixport and Bitdeer Technologies is still optimistic about blockchain and crypto and was interviewed by Forbes Asia this week in a story published by author Robert Olsen. Wu’s optimism showed throughout the interview, noting that his company believes the industry will swell to tens of trillion in the future.

“We believed that together, crypto and blockchain would grow rapidly to tens of trillion dollars in the future,” said Wu during the interview. “And many of these new users will stay in the crypto market forever, so they need advanced and mature products to manage the wealth they amass in crypto assets.”

In addition, Wu underscored his optimism even more when he said:

Even if 95% of today’s coins lose their value and disappear, the remaining 5% will grow massively.

Former Bitmain Co-Founder speaks briefly about Fall Out with Micree Zhan, Bitmain continues on its crypto path

In an interview with Forbes Asia, Wu spoke briefly about his argument with Bitmain co-founder Micree Zhan. Wu reached an agreement with Zhan, resigned from Bitmain and founded Matrixport and Bitdeer. It was the first time Wu was able to speak on the subject, according to Olsen, but a nondisclosure agreement prevents the digital currency entrepreneur from speaking on certain matters.

“That was a tough time for our business and for me. And of course the pressure to run a complex manufacturing business built up and eventually led to an argument between the two of us co-founders, ”Wu said in an interview with Forbes Asia.

While Bitdeer recently announced plans to list on the Nasdaq and recently received funding from Matrixport, Bitmain is still moving forward in the industry. At the World Digital Mining Summit in Dubai, Bitmain unveiled the company’s most powerful Bitcoin mining device to date. According to the announcement, the Antminer S19 XP will hashing at speeds of up to 140 terahash per second (TH / s). Bitmain’s mining pool, Antpool, is also now the third largest Bitcoin miner in terms of hash rate, after Foundry USA.

Tags in this story

Bitcoin Mining, BitDeer, Bitdeer Group, Bitmain, Blockchain, Crypto, Crypto Assets, Digital Currencies, Foundry USA, Institutions, Internet, Jihan Wu, Jihan Wu Interview, Matrixport, Micree Zhan, Mining, Nasdaq, Trillion Dollars

What do you think of Jihan Wu saying he believes crypto and blockchain will reach tens of trillion dollars in value? Let us know what you think on this matter in the comments below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.

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