Blockchain technology’s rapid growth is expected to significantly impact the global economy. According to Coinbase CEO Brian Armstrong, crypto infrastructure might sustain up to 10% of the world’s GDP by the end of this decade. He made this bold statement on Coinbase’s Q4 2024 earnings call, underlining the transformative power of digital assets.
Armstrong compared the current acceptance of cryptocurrency to the early days of the internet, when firms had to adapt to new technology or risk falling behind. “Onchain is the new online,” he said, highlighting blockchain’s expanding impact on traditional financial institutions and company operations.
If Armstrong’s prediction comes true, it would imply that over $10 trillion in economic value may be tokenized and integrated using blockchain technology, considering that today’s global GDP exceeds $100 trillion. This transformation has the potential to transform industries such as finance, real estate, supply chains, and digital identity management, establishing blockchain as a vital component of economic infrastructure.
The United States is likely to play a key role in driving this shift. Armstrong stated that the United States currently has the “most pro-crypto Congress” in history, promoting regulations that favor stablecoin adoption and transparent market systems. This regulatory drive, he claims, will set a precedent for other countries to follow, hastening worldwide cryptocurrency adoption.
Federal Reserve Governor Christopher Waller recently called for legislative frameworks that would allow banks to issue stablecoins, further incorporating cryptocurrency into mainstream finance. Armstrong believes that these events indicate a shift toward a more robust digital economy, with blockchain-based financial services becoming the standard rather than an exception.
Coinbase appears to have a promising future. In the fourth quarter of 2024, the company’s revenue increased by 88% to $2.3 billion. Armstrong envisions Coinbase as the go-to partner for enterprises wishing to integrate blockchain technology, putting the company at the vanguard of this rapidly changing financial world.
Looking ahead, Armstrong is committed to expanding the utility of cryptocurrency beyond trading. “It’s about building the foundations to power the next decade of growth,” he told me. With increased legislative clarity, institutional interest, and ongoing technological developments, the idea of a blockchain-powered global economy is closer than ever.
