Just about a week ago Changpend Zhao the CEO along with Vitalik Buterin had speculated about the possibility of crypto markets to offering 1000x returns on investment.
Buterin mentioned there has been an increase in awareness of the cryptocurrencies among the mainstream by late 2017.
It makes it unrealistic for the market to increase a thousand fold. It is presently valued at $200 billion. He further stated that a 1000x increase means $200 trillion. It will be 70% of the global wealth which includes reserve currencies, gold, and other traditional assets.
Changpeng Zhao Predicts 1000x To Be a Possible Scenario
CZ who is the CEO of Binance believes 1000x return from the current valuations is absolutely possible. It is an optimistic prediction for the price trends in the coming future. Although it raises doubts, the argument about the potential of cryptocurrency has its merits.
Crypto biggies like Gemini, Coinbase and BitGo are trying to bring in institutional investors into this market. On the other hand, investors are expecting ETFs and other publicly tradable instruments around crypto to hit the financial space.
Other Experts and their Views
A well-known venture capitalist named Gary Tan who was among the first few investors in Instacart and Coin base has now funded over 100 startups.
They value at $20 billion. He estimates the crypto market to touch 100s of trillions of dollars in terms of market valuations. He mentions, although it is difficult to imagine a 1000x return, there is no ruling out about the chances of explosive growth for the cryptocurrency market.
Similarly, Mike Novogratz believes FOMO to be among institutions. In the month of June last year, he estimated the crypto market might appear as a bubble by the time it touches $20 trillion. He had explained that the next rally will be driven by the institutions that will be entering the crypto market.
Institutional Investors and Cryptocurrency Market
This would eventually trigger fear of missing out among the institutional investors. Hence more money is scheduled to be pumped into the market.
Thus the robust developments around the crypto markets will further increase the chances of institutional investors making more investments and driving the market to achieve the mark of hundreds of trillions of dollars in terms of valuation.