Tim Draper Predicts Total Crypto Market Cap of $80 Trillion in Next 15 Years

Venture capital investor Tim Draper has predicted that total cryptocurrency market capitalization will hit $80 trillion in the next 15 years, news outlet DealStreetAsia reported September 14.

Speaking at the DealStreetAsia PE-VC Summit 2018 in Singapore, Draper argued that the significant slide in the cryptocurrency market in recent months is attributed to people who have not adopted digital currencies as a new asset class. Draper stated that once people become more familiar with the technology, it would transform many important industries globally:

“I think it’s going to have such a transformative effect on industries that we never even imagined would be transformable. The internet went after industries that were $10–100 billion dollar markets, cryptocurrency will go after trillion dollar markets — these are finance, healthcare and insurance, banking and investment banking, and governments.”

In January 2018, Barron’s reported that the Russell 3000 Index — which accounts…