Brian Armstrong, the CEO of Coinbase, has foreseen a promising future for cryptocurrency. He predicts that by 2030, 10% of worldwide GDP could be operating on cryptocurrency-based systems. This insightful forecast was shared during Coinbase’s recent call for fourth-quarter 2024 earnings.
Drawing parallels from history, Armstrong compared this rising momentum of crypto integration amongst businesses to the situation during the early 2000s when all companies were trying to accommodate internet technologies. He coined a new phrase indicating this shift, saying, “Onchain is the new online.”
If Armstrong’s vision comes to fruition, it implies that more than $10 trillion in value could be onchain or tokenized, considering the current global GDP of over $100 trillion as provided by the World Bank.
Armstrong firmly believes in Coinbase’s potential to be the preferred partner for companies wanting to establish crypto integration. The firm also announced significant growth in revenue, reaching $2.3 billion in the fourth quarter, an 88% increase from the previous quarter.
America, contributing to 30% of the world’s GDP, could lead this revolution. With promising statements made by President Trump to make the U.S the heart of crypto development and enthusiastic support from the most “pro-crypto Congress” ever witnessed, Armstrong thinks that the rest of the globe will soon follow America’s lead.
As signs of these predictions manifest, Federal Reserve Governor, Christopher Waller, recently advocated for stablecoin regulation to allow banks to issue dollar-pegged digital assets.
For the forthcoming year, Armstrong asserted that the focus will be on increasing revenue through existing products, driving utility in new crypto categories, and building a solid foundation for the coming decade’s growth. Coinbase demonstrated its strongest quarterly earnings in over a year, significantly exceeding analyst projections on its revenue.