Matrixport founder Jihan Wu believes crypto space will swell to “tens of billions of dollars”

Seven months ago, in the first week of May, digital currency entrepreneur Jihan Wu told a conference that he expects the crypto industry to outperform the internet and in August Next, Wu’s company Matrixport raised $ 100 million and joined the crypto industry’s growing list. unicorns. This week, an interview with Wu was published and the billionaire said he believes the crypto and blockchain space will reach tens of billions of dollars in value.

Jihan Wu: “Crypto and blockchain will reach tens of billions of dollars” in the future

The former Bitmain CEO is no stranger to the cryptocurrency world as the pioneer has been involved in the industry for over a decade. Jihan Wu co-founded the privately held Bitmain Technologies Ltd., with Micree Zhan in 2013.

Most recently, he runs digital currency financial services company Matrixport, a startup that raised $ 100 million in August. Wu is a strong supporter of crypto and blockchain and in May Wu spoke at the Second 421 Wet Season Festival and Mining Ecology Conference and said:

In the long run, the blockchain industry is bullish and is the biggest opportunity. Innovations in this industry may even overtake the Internet itself.

the Matrixport and Bitdeer Technologies the founder is still optimistic about blockchain and crypto and this week he was interviewed by Forbes Asia in a story published by author Robert Olsen. Wu’s optimism is shown throughout the interview and noted that his company believes the industry will reach tens of billions of billions in the future.

“We believed that crypto and blockchain together would grow rapidly in the future up to tens of billions of dollars,” Wu explained in the interview. “And many of these new users will stay in the crypto market forever, so they will need advanced and sophisticated products to manage the wealth they accumulate in crypto assets.”

In addition, Wu emphasized his optimism further when he said:

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

Former Bitmain Co-Founder Talks Briefly About Fall Out With Micree Zhan, Bitmain Continues Path To Crypto

In the interview with Forbes, Asia Wu spoke briefly about her falling out with Bitmain co-founder Micree Zhan. Wu made a deal with Zhan, walked away from Bitmain, and launched Matrixport and Bitdeer. According to Olsen, this was the first time Wu could speak out on the matter, but a nondisclosure agreement prevents the digital currency entrepreneur from speaking out on specific issues.

“It was a difficult time for our company and for me. And of course, the pressures of running a complex manufacturing business built up and ultimately led to a falling out between the two of us co-founders, ”Wu explained in the Forbes Asia interview.

While Bitdeer recently announced its intention to be listed on Nasdaq and the funding recently received by Matrixport, Bitmain continues to advance in the industry. At the World Digital Mining Summit in Dubai, Bitmain unveiled the company’s most powerful bitcoin mining device to date. According to the announcement, the Antminer S19 XP will hash at speeds of up to 140 terahash per second (TH / s). Bitmain’s mining pool, Antpool is also the third largest bitcoin miner today in terms of hashrate, below Foundry USA.

Tags in this story

Bitcoin Mining, BitDeer, Bitdeer Group, Bitmain, Blockchain, Crypto, Crypto Assets, Digital Currencies, Foundry USA, Institutions, Internet, Jihan Wu, Jihan Wu Interview, Matrixport, Micree Zhan, Mining, Nasdaq, Billions of dollars

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Jamie redman

Jamie Redman is Head of News at News and a FinTech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code, and decentralized applications. As of September 2015, Redman has written over 5,000 articles for News on the disruptive protocols emerging today.

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