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Silicon Valley investor Ron Conway believes that the crypto economy could be the next multi-trillion opportunity in innovation. But to make the most out of the rapidly expanding industry, the U.S. needs to position itself as the world leader of the crypto economy.
While the crypto industry has rapidly expanded and soared past the trillion-dollar mark in just a year, he thinks that it is still in its infancy. “Look at the market size for the crypto economy,” Conway said, according to Bitcoin.com. “Last year, it was $778 billion, headed to over a trillion. And the crypto economy is in its infancy.”
Given its explosive growth, the crypto market capitalization could soar to trillions of dollars in the future. “The crypto economy is the next multitrillion-dollar opportunity in innovation,” Conway added.
However, Conway said that the U.S. should come ahead of its competitors such as China, and become the crypto economy’s global leader. “There’s going to be millions of jobs created from this trillion-dollar industry and we want those jobs to be in the United States,” he shared his outlook in an interview with CNBC Wednesday.
The investor made is comment on the day of Coinbase’s direct listing on Nasdaq. Conway is an early investor of Coinbase.
“What really sets Coinbase apart is it is a crypto-only company…,” the investor pointed out. “All these other companies, crypto is an add-on. Coinbase is what we called a crypto-first company, and that focus is what is making them a market leader.”
With Coinbase’s listing, he even likened it to Google. “I absolutely believe that Coinbase is the Google for the crypto economy and opens this huge opportunity to consumers.”
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