Former Goldman Sachs Exec Predicts $1 Quadrillion Crypto Use-Case
You might be surprised to learn that the crypto space has the potential to be worth a whopping $1 quadrillion. According to former Goldman Sachs executive Raoul Pal, this massive amount of money could eventually flow into the world of cryptocurrencies.
In a recent interview on Crypto Banter, Pal highlighted the significance of BlackRock’s interest in a spot Bitcoin exchange-traded fund (ETF). While the ETF itself may not be the game-changer, Pal believes that BlackRock’s involvement sends a powerful message to the financial industry.
Pal explains, “This is a meaningful technology… They’re now saying, ‘Well we want to invest in it, we want to allow our clients to invest in it, and we will build out on the infrastructure of it.’”
This opens the door for an enormous range of applications in the finance industry. Pal estimates that $1 quadrillion worth of derivatives and equities markets could potentially be moved onto blockchains.
Hot Take
The financial industry’s embrace of cryptocurrencies could revolutionize the way we handle money and finance, with implications that far surpass any other use-case in the crypto space.
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