Quantcast

Daily Traders Edge

One stock analyst’s $10 trillion bull case for cryptocurrencies

January 04
15:37 2018

Cryptocurrencies and the blockchain technology underlying them could become a $10 trillion market in 15 years, RBC Capital Markets analyst Mitch Steves says.

That’s more than 13 times larger than the roughly $730 billion value of cryptocurrencies today, according to CoinMarketCap.

“By utilizing decentralized computing and opensource software, we see a multi-trillion dollar market emerging,” Steves, who also covers semiconductor stocks for RBC, said in a Wednesday report.

He told CNBC in a phone interview that his $10 trillion estimate comes from taking one-third of the roughly $30 trillion in assets held in offshore funds and gold, as investors embrace digital currencies as a new store of value.

Continue Reading at CNBC

Related Articles

Newsletter Signup

Sign up for our free newsletter