Matrixport Founder Jihan Wu Believes Crypto Space Will Swell to ‘Tens of Trillions of Dollars’ – Featured Bitcoin News

Seven months ago, during the first week of May, the digital currency entrepreneur Jihan Wu said at a conference that he expects the crypto industry to surpass the internet and the following August, Wu’s firm Matrixport raised $100 million and joined the crypto industry’s growing list of unicorns. Wu spoke out this week in an interview and said that the crypto- and blockchain industry will reach tens trillions of dollars.

Jihan Wu: ‘Crypto and Blockchain to Grow to Tens of Trillions of Dollars’ in the Future

Bitmain’s former CEO isn’t new to cryptocurrency, as the founder has been in the business for more than a decade. Jihan WuIn 2013, Micree Zhan and I cofounded Bitmain Technologies Ltd., a privately owned company.

He is currently the CEO of Matrixport digital currency financial service company, which raised $100 million last August. Wu believes in blockchain and crypto. In May Wu addressed the Second 421 Wet Season Festival.

The blockchain industry offers the greatest opportunity and long-term bullishness. These innovations may surpass even the Internet.

He is bullish on crypto and blockchain, and was interview by Forbes Asia this week by Robert Olsen. Wu’s optimism is shown throughout the interview and remarked that his firm believes the industry will swell to tens of trillions in the future.

“We believed that crypto and blockchain together would experience rapid growth in the future to tens of trillions of dollars,” Wu elaborated during the interview. “And many of these new users will stay in the crypto market forever, so they’ll need advanced and sophisticated products to manage the wealth they accumulate in crypto assets.”

Wu also highlighted his optimism when he stated:

Even if 95% of today’s coins lose all their value and disappear, the remaining 5% will grow massively.

Bitmain’s Former Co-Founder, Micree Zhan, Talks Briefly about the Fallout with Micree Zhan. Bitmain continues its crypto path

Forbes Asia interviewed Wu about his disagreement with Micree Zhan, Bitmain’s co-founder. Wu signed a contract with Zhan. After that, Wu left Bitmain to start Matrixport. Olsen claims that Wu was able to talk about this issue for the first time, however, a nondisclosure arrangement prevents Wu from discussing specific topics.

“That was a tough period for our business and for me. And of course, the pressures of running a complex manufacturing business built up and eventually led to a falling out between us two cofounders,” Wu explained in the Forbes Asia interview.

Bitdeer announced recently plans to list at the Nasdaq. Matrixport has received funding. Bitmain, however, is continuing its progress in the sector. At the World Digital Mining Summit in Dubai, Bitmain revealed the company’s most powerful bitcoin mining device to date. Antminer S19 XP is capable of hashing at speeds up to 140 terahash/second (TH/s), as per the company’s announcement. Bitmain’s mining pool, Antpool is also the third-largest bitcoin miner today in terms of hashrate, below Foundry USA.

In this story, tags
Bitcoin mining, BitDeer Group, Bitmain Blockchain, Crypto assets, Digital Currencies Foundry USA institutions Jihan Wu interview Matrixport Micree Zhan mining, Nasdaq trillions

You think Jihan Wu believing that blockchain and crypto will rise to trillions in value is a good idea? We’d love to hear your views on the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for News, with over 5,000 articles on disruptive protocols.

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