Former Bitmain CEO is Bullish on Crypto Industry

Jihan Wu is the former CEO and founder of Bitmain, a cryptocurrency hardware and mining products manufacturer. He recently told the media that the total market cap of the cryptocurrency market has the potential to grow into double-digit trillions of dollars strong. Wu is also known in the cryptocurrency markets as a billionaire.

In 2013, he told the media that despite the increasing concerns over high-risk factors and volatility, the market would continue to keep growing. He also claimed that in the worst-case scenario that 95% of the current circulatory supply of the cryptocurrency disappears today, the remaining 5% will be able to keep growing and inflate into the trillions eventually.

After parting ways with Bitmain, Juhan Wu joined another financial services company called Matrixport. At present, when the broader financial and cryptocurrency markets are in a state of panic and fear, Matrixport has managed to amass a value of $1 billion. The evaluation was made possible due to a round of recent funding round.

Considering these latest successes, Wu was invited for an interview with Forbes. Speaking to the journalists, he claimed that he is fairly bullish on the cryptocurrency industry and has great expectations from the market potential. He also added that crypto and blockchain technology work well together.

Speaking to the media on the matter of cryptocurrencies, Bitmain former founder, told the media that the new investors and millennials who are entering the market this year are likely to remain active for a long time. He also claimed that with the involvement of developers and programmers from all parts of the world, the creation of innovative and sophisticated blockchain by-products has been rapid.

He also pointed out that the feature of being border-less allowed the cryptocurrency technology to develop and grow without any barriers like the centralized financial infrastructure. He also claimed that trustless networks like DeFi are riddled with possibilities. According to him, the centralized financial institutions will eventually have to work in association with the digital asset market.