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Abra CEO Predicts $50 Trillion Cryptocurrency Market on Tokenization
Abra CEO Bill Barhydt predicts the cryptocurrency market will reach a major breakthrough. In essence, Barhydt expects to reach the overwhelming market capitalization of $50 trillion in ten years, after the initial phase has grown by almost 2,000% from its current value of around $2,500 billion.
Barhydt identified RWA tokenization in his interview with Anthony Pompliano as the main driver of this remarkable growth. Tokenization involves issuing digital tokens to represent traditionally known assets such as stocks, bonds and real estate on a blockchain network.
“I think you’re going to see real-world assets become tokenized, especially starting outside of the United States, and you’re going to have all these investment services that basically make them all fungible, meaning I can hold real estate, I can hold stocks, I can hold bonds, I can hold native cryptocurrencies and they are all fungible because they are all tokens that I can trade with each other or borrow with,” he said.
He believes that many benefits can be gained from tokenization in the financial sector. It paints a future where people could have more choices about what to invest in and even invest in assets they couldn’t invest in before. Cryptographic tokens representing different assets can be traded within a single platform making the process simpler and more convenient than in the past.
Furthermore, tokenization of assets could indicate opportunities that could be implemented in the field of credit across the world, with such implications that could be not only an eye-opener for developing nations, but also a change that could also improve the landscape of loans.
However, the source of Barhydt’s prediction is the rampant use of digital assets as the basic principles of the current global monetary system. His vision raises the opportunities that blockchain technology could replace the old economy.
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