Growing from $17.7B to $623B so far this year, the crypto-economy is seeing mass adoption across oceans and borders.
Welcome to the fastest growing industry in human history.
Welcome to the world’s GDP! We’ve got about $78.5 Trillion USD total. If you live in the USA or China, congratulations! You’re worth about $29 Trillion and make up about 39% of the world’s GDP.
If you’re Saudi Arabia, you’re worth about $756 Billion, or about .96% of the global GDP.
And if you’re Jeff Bezos, you’re worth about $100 Billion, or about .13% of the global GDP (And hey Jeff, could you help me get my Alexa working again?)
Growing from a market cap of $17.7B to $623.2B USD, the crypto industry has grown by 3,520% so far this year — A rate some experts might call “Stupid Fast”
Despite the boom of new coins in the market Bitcoin reigns supreme with an approximately $318B market cap and just over 51% of the industry.
This is what the world economy looks like today featuring cryptocurrencies. Do you see that little slice between Switzerland and Argentina? That’s crypto, and it’s already 35x larger than it was at Jan 1st, 2017. It’s not a big slice, but it’s visible now which is a pretty big accomplishment in and of itself.
Now let’s look forward at what the future has in store for us. In our actual analysis, we’ll assume a more modest rate of growth at just 600% annually, but for fun-sies in this chart, let’s see what happens if crypto maintains it’s current growth rate of 3,520% through 2018.
Wowza! If the crypto market keeps up its breakneck growth for just one more year, it will already be bigger than the US economy! Another year out and crypto looks like pacman.
Back to a more modest 6x growth rate (less than a fifth of 2017's). Here’s the respective charts for 2018–2020.
Crypto is the 6th biggest economy in the world this time next year if it slows growth to a fifth of what it’s doing now.
In 2 years, crypto overtakes China as the second largest world economy.
By the end of 2020, half the world runs on crypto.
And some people are saying “the ship has sailed” when it comes to crypto.
I’ll be the first to admit the growth we’re seeing is bat-shit crazy.
I remember around a year ago around New Years 2017, there was a poll asking what we thought the price of Ethereum (then $8) would be by the end of 2017. I thought I was so bullish when I guessed $50! After all that was more than 6x in a year. Today, Ethereum specifically is sitting at around 100x what it was a year ago.
The lesson to be taken away is that, yes the crypto-economy could collapse and all of your (and my) investments could fall to zero, but there’s also the opportunity to see growth that defies historical logic.
Money is made up, traditional economics isn’t holding up, and it’s the wild wild west in the crypto world.
You hold shift while pressing your key 😛 But for real:
Enough that you would not be devastated if it disappeared, but you would be very excited to see it multiply. We still have a long way to go and the industry is young. Grab yourself a slice of the pie before it’s gone 🍰
Like startups, more than 90% of new coins will likely fail. So don’t support the pump and dump economy, invest long-term in the tokens you actually believe are offering something valuable to the ecosystem/world 🌍
Crypto prices take 25% swings up and down in a day — get used to it. But if you’re placing your bets long term and HODL, you’ll catch every bull run on the way to the moon 🌕
For as fast as it’s growing, the crypto industry is still in an infantile stage. There are green fields of opportunity waiting for the ambitious engineer or entrepreneur out there. We didn’t see the most popular mobile apps until almost 10 years after the invention of the iPhone, and I’m certain the most popular blockchain apps are still waiting to be developed 🛠
Thanks so much to my team at Dispatch Labs, for helping me edit and encouraging me to turn my preachings into writings. And thanks to all the blockchain builders out there who’ve gotten us this far. We’re standing on the shoulders of giants ❤️
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