Jihan Wu believes that crypto’s future could see exponential growth, with a market of over $10 trillion.
Bitcoin’s rally to an all-time high above $69,000 led the crypto market to a landmark breakout to $3 trillion in market cap in November.
Wu believes that even if 95% fails, the 5% who succeeds will have the potential for a valuation in excess of tens trillions of dollar.

After a decade of growth, many market analysts believe that cryptocurrencies will continue to grow in acceptance and institutional adoption.

Jihan Wu, who was the CEO of Bitmain’s Bitcoin mining company, is currently the chairman and co-founder of Matrixport, a Singapore-based financial services firm. Bitdeer Technologies, another crypto mining company, is also co-founded by him.

In a Forbes interview, Wu discusses his long-term market assessment. He stated that even if all digital assets vanish, those that survive will experience significant growth.

Crypto’s volatile yes, but…

Recent highs in Bitcoin and other digital assets saw the global cryptocurrency market capitalisation surpass $3 trillion. But, the total market capitalisation has dropped to $23 trillion. Bitcoin lost more than 30% in just one month after falling from highs of $69,000 and testing support below $45,000.

Wu remains optimistic long-term despite the recent price decline and believes that the trend will continue to be one of growth. In the interview, Wu mentions that volatility is a part of crypto market today. However, as the market matures, long term gains will outweigh any wild price fluctuations over the years.

“Even if 95% of today’s coins lose all their value and disappear, the remaining 5% will grow massively,” the crypto billionaire told Forbes during the interview.

He says the belief that cryptocurrency and blockchain technology have an enormous potential for growth saw him and Matrixport’s other co-founder John Ge Yuesheng launch the company in early 2019.

He and Ge Yuesheng were at the time convinced that despite the bearish outlook for Bitcoin and other digital assets, the industry would see “rapid growth in the future.”

The two think it’s possible for the industry to grow to “tens of trillions of dollars.”

Wu calls DeFi a “breathtaking” innovation

Among sectors Wu is bullish about is the decentralised finance (DeFi) space, which he says is a “breathtaking” innovation.

To increase market interest, you can also add non-fungible tokens to the list of crypto innovations in 2021. Wu believes this growth is indicative of the direction that crypto is heading. He sees most crypto users being ‘here to stay’.

In his opinion, what crypto investors need most now are “advanced products” tailored towards meeting investment and wealth management goals.

Regulation uncertainty

Regulative uncertainty has been and continues to be a major problem in the crypto market over the years. Experts and executives from the crypto market have called for regulations to support innovation, not hinder it.

Wu holds a similar view, but the former Bitmain chief says cryptocurrencies are unlike traditional finance systems and that the limitations that weigh down the legacy systems are unlikely to hamper crypto’s development.