• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency Technology

Coinbase CEO: The Real World Adoption Of Crypto Is Still Increasing

Nick Chong by Nick Chong
2 years ago
in Cryptocurrency Technology
Reading Time: 3min read
coinbase
Advertisement
Listen to Article
Article updated on August 15, 2018, @ 17:15 to reflect updated information

While the cryptocurrency market has tanked in recent months, many cryptocurrency advocates remain unfazed, with some claiming that the adoption rates will only continue to swell. Critics may classify this sentiment as unwarranted optimism, but Coinbase CEO Brian Armstrong has recently disclosed figures that allude to the fact that the cryptocurrency market is set on growing.

Brian Armstrong Remains Hopeful In This Tumultuous Market

Coinbase has long been at the helm of the cryptocurrency market, holding the business of 25 million consumers to its name. But as this year’s correction hit crypto investors square in the gut, many pessimists began to speculate that it was the beginning of the end for exchanges. Bloomberg reports that this is far from the case, with Brian Armstrong, the CEO and co-founder of Coinbase, recently speaking at the Bloomberg Players Technology Summit to give an inside look into one of the most influential firms in this industry.

Thank you @emilychangtv for talking all things crypto today ? pic.twitter.com/sEK7P8kd6S

— Coinbase (@coinbase) August 14, 2018

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

During the interview, Bloomberg host Emily Chang asked the following pressing question — “is this the price of what Bitcoin should be?” Turning the question on its head, Armstrong responded, stating:

“This technology is going through a series of bubbles and corrections. So we’ve been through four or five of them now where Bitcoin made this big runup in price and there was irrational exuberance, and then it corrected back 60 or 70 percent… It has kind of matched the growth of the company (Coinbase). If you go back to 2012/2013 when we started, we had 500 people a day signing up. After the next bubble and correction, we had 5,000 people a day sign up. And now its more like 50,000 a day signing up.”

If these figures prove to be accurate, the Menlo Park-based platform will signup upwards of 350,000 users each week and 18.25 million a year, a breathtaking feat to say the least. However, according to updated information, the platform was signing up 50,000 users in last year’s bull run, not today. Whilst some users were deflated when they discovered this updated statistic, some drew attention to the fact that Coinbase can now reach tens of millions of individuals, which may be a silver lining to optimists.

On the other hand, Binance has seen rampant growth in the face of a bearish market, with CEO Changpeng Zhao claiming that the exchange’s user base has quintupled from two million to ten million since the start of 2018.

Adding a bit more fuel to this cautiously optimistic sentiment, Armstrong drew common connections between the cryptocurrency market to the early-stage Internet-centric market. In the Internet boom at the turn of the century, companies hoping to make it big were popping up left and right. While many would suggest that the most successful firms are established as prices rise, Armstrong noted that Facebook was founded after the Nasdaq’s 70% tumble, which was one of most dismal eras in Internet history.

The Coinbase executive said its much of the same now, alluding to the countless crypto startups that have a shot at becoming the next ‘Facebook’ in the face of a bear market. Furthermore, Armstrong also noted that the adoption of cryptocurrencies is still on the rise, stating:

“People’s expectations are all over the map, but the real world adoption and usage (of cryptocurrencies) are pretty steadily increasing each year.”

If the cryptocurrency market lives up to its full potential, experts like Meltem Demirors expect these early-stage technologies could impact the lives of tens of millions, if not hundreds of millions of consumers worldwide. This factor, coupled with the ones aforementioned, are just some of the reasons why Coinbase’s CEO believes “that it’s getting harder and harder to become a crypto skeptic.”

Featured Image from Shutterstock
Tags: coinbasecoinbase exchangecoinbase newscryptocurrencycryptocurrency exchangecryptocurrency newsexchangeNews
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Contested Election Results Force Discussion of Blockchain Based Voting System

Contested Election Results Force Discussion of Blockchain Based Voting System

3 months ago
jax network

Jax.Network Addresses Crypto Scalability Issues, to Create A Decentralized Consumer Payment System

3 months ago
crypto tether usdt stablecoin

No, Another $1 Billion In Tether (USDT) Wasn’t Added To The Crypto Market Cap

4 months ago
crypto

South Korean Crypto Platform ICON Launches Decentralized Passport Service

2 years ago
Swiss Luxury Hotel Accepts Bitcoin Showing Increase in Adoption, CEO Explains Motive

Swiss Luxury Hotel Accepts Bitcoin Showing Increase in Adoption, CEO Explains Motive

2 years ago
Jack Dorsey Unveils Square Crypto, How Will It Help Bitcoin?

Jack Dorsey Unveils Square Crypto, How Will It Help Bitcoin?

2 years ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Seascape Network to take DeFi Gaming to the Next Level with the Binance Smart Chain

January 21, 2021

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

NOWPayments Presents: Fiat Conversion

January 20, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.