Digital currencies maintained by decentralized systems of cryptography – Cryptocurrencies – are a relative newcomer in the history of banking and finance. A lot of people don’t understand how they work, and doubtless that’s been a contributor in hesitation to adopt it, especially by older generations. Are they missing out on what might be a huge financial opportunity? In our latest Trade To Black podcast we welcome back the renowned American investor and hedge fund manager Mark Yusko for an eye-opening discussion on the future of cryptocurrency.
ARK Invest CEO Cathie Wood predicts that crypto’s market cap – currently approximately $1.13 trillion – could be as high as $25 trillion in the 2030s. Bitcoin would likely comprise more than half of that total market cap.
Mark Yusko’s vision of the cryptocurrency industry is nothing short of extraordinary. The long-term outlook, he says, “has never been better.” Early adopters have pioneered the space, and now we’re at the threshold of growth.
We talk about the aha moment of Scott Scornetta that launched blockchain to verify information. Early banking required systems of ‘trust’ in ledgers. This ‘trust’ system, Yusko says, is a $7 trillion dollar industry. Blockchain, however, will enable the replacement of ‘trust’ with ‘truth.’
How does a $25 trillion dollar number happen, however? Throughout the interview, Yusko provides a detailed analysis of the mathematical underpinnings behind this forecast and how the valuation is calculated.
We’ll also talk about the five protocols that matter, and why culture innovation plays such a big part. Millennials seem to be comfortable with the innovation; what is holding boomers back? We also predict why Vivek Ramaswamy won’t be elected.
Join us in this thought-provoking episode as we delve into the future of cryptocurrencies and NFTs with Mark Yusko. Thanks for being part of our community, and we look forward to exploring the world of finance with you in future episodes.