Tron’s Justin Sun and Binance’s Changpeng Zhao Still Bullish on the Future of Crypto
The latest prominent crypto personnel having their say on the future of crypto growth and potential to see a 1000x boom have been Tron Foundation’s CEO Justin Sun and leading crypto exchange Binance’s chief Changpeng Zhao. The two have had their say on the long term future of cryptos in response to Vitalik Buterin’s comments from a recent interview.
Justin Sun shared his views via Twitter in response to Buterin’s thinly veiled jibe against him, as he reiterated his belief on the future of the cryptocurrency space. He even went on to claim that crypto will become the first 10 trillion USD market of the world, ahead of giants Apple and Amazon who have already crossed the trillion USD mark. He tweeted:
I do believe the entire world wealth will turn into cryptocurrencies like blackhole and grow much bigger in the future. Cryptocurrency will hit 10 trillion USD market cap before @Apple and @amazon do. We will see. Time will tell. #TRON #TRX $TRX
— Justin Sun (@justinsuntron) September 12, 2018
In keeping this opinion, Justin was not left alone, as Binance’s CEO Chanpeng Zhao also shared his views, seeing a greater growth to come for cryptocurrencies. Zhao argued that cryptos can still grow by a thousand-fold in the long-term as major assets like Bitcoin and Ethereum reach mainstream adoption. He tweeted:
I still disagree with this. I will say “crypto will absolutely grow 1000x and more!” Just reaching USD market cap will give it close to 1000x, (that’s just one currency with severely restricted use case), and the derivatives market is so much bigger.
— CZ Binance (@cz_binance) September 12, 2018
In addition, Zhao maintained that a thousand time boom in crypto prices can be portrayed as an unrealistic target if it is kept being compared to the traditional market size. He sees that the crypto market can surpass the traditional finance market. He further tweeted:
You also can’t use traditional market size to measure potential for new technologies or industries. If you used (and people have) taxi market size to estimate Uber’s potential, you would be off by quite a bit.
— CZ Binance (@cz_binance) September 12, 2018
Vitalik Buterin’s recent comments about crypto growth have seemingly stirred up more responses than it had meant to. After outburst from social media outlets and several news agencies who claimed that the Ethereum co-owner ‘did not believe in the future of cryptos’, Buterin came out to clarify every word of his statements via Twitter. This has started a series of experts sharing their views on the future of cryptocurrencies and there could still be more to come from this.
While these comments from prominent crypto personalities have become tabloid, it is imperative that their belief and commitment regarding crypto’s ability to compete fiat remains thorough and compact.
A 1,000-fold return from the current price is highly unlikely, but Sun and Zhao are two who believe in it.
