eToro CEO: $100 Trillion Moving to Crypto Within Next 10 Years

By: Tyrone Jackson

2021-12-02

Yoni Assia, one of the co-founders and currently the CEO of eToro, has given his prediction regarding the cryptocurrency market as he sees a massive $100 trillion moving into digital assets in a decade or by 2031.

This view was shared by Assia on an interview that was done by Cointelegraph[1] when he attended the recently concluded Bitcoin 2021, one of the largest crypto events in history that was held in Miami, Florida:

 

We’re also big believers in the future of blockchain technology for the backend of finance, and that’s going to take a while. I believe that all financial assets are eventually going to be transformed into the blockchain in one from another. So we’re going to see a transfer of over a hundred trillion dollars over the next 10 years into native digital assets.

The CEO also added that most of eToro’s clients (which are currently over 20 million) are investing on stocks and crypto. He also sees that users would prefer to just have a single account for managing their investments in the future.

Assia also labelled Bitcoin as the “king of crypto” and that its market value will eventually appreciate within the next 3 to 5 years, viewing the biggest crypto in terms market capitalization as the catalyst for financial inclusion particulary for those that don’t have a local currency.

DeFi is the “Wild West”

With regards to DeFi or decentralized finance, he commented that it is the “wild west” as it currently doesn’t have any real financial institutions and regulation, but with lots of “amazing innovation”. He added that these innovations of DeFi will move to traditional finance or one that is regulated and that companies, particularly those that are centralized, will be able to offer them for their customers.

He also believes that this is just the beginning for DeFi and smart contracts and sees it as how future financial services are going to operate, noting though that scalability issues will still need to be resolved by blockchain technology in order for such vision to happen.

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References


  1. ^ ‘Bitcoin is the king of crypto and it’s here to stay’ says eToro CEO Cointelegraph
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