Matrixport Founder Believes Crypto Will Swell to ‘Tens of Trillions of Dollars’

In the first week of the month, approximately seven months ago, Jihan Wu, the digital currency entrepreneur had said at a conference that he believed the crypto industry would manage to surpass the internet. In August, his company named Matrixport has joined the growing list of unicorns in the crypto industry, as it has managed to raise a whopping $100 million. This week, the billionaire stated in an interview that he believes the crypto space and blockchain would eventually reach a valuation of tens of trillions of dollars. 

Since he served as the former chief executive of the Chinese firm Bitmain, Wu is certainly not a stranger to the world of crypto. He has been involved as a pioneer in the crypto industry for more than a decade. In 2013, Jihan Wu and Micree Zhan co-founded the privately-owned firm named Bitmain Technologies Ltd, which is one of the most renowned manufacturers of crypto mining machines. In recent times, Wu is heading Matrixport, which is a digital currency financial services firm. The startup managed to raise a whopping $100 million back in August. Therefore, it is not surprising that Wu is a big believer in the blockchain and crypto space. 

Back in May, he had attended the Second 421 Wet Season Festival and Mining Ecology Conference. He spoke at the conference and said that the blockchain space would be bullish in the long run and would offer the biggest opportunity. He said that the innovations in the crypto space could actually surpass that of the internet. The founder of Bitdeer Technologies and Matrixport remains bullish about crypto and blockchain and Forbes Asia interviewed him this week in a story that was published by Robert Olsen. Throughout the interview, Wu’s optimism shone brightly and he remarked that his company believes that the space would eventually expand to tens of trillions in the near future.

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Wu elaborated that he believed a lot of new users would stay in the crypto industry forever, so they will require sophisticated and advanced products for managing the wealth they accumulate in the form of crypto assets. He further expressed his optimism by saying that even if 95% of the coins in the market lose their value and disappear, there will still be massive growth in the remaining 5%. Wu also talked about the falling out he had with Micree Zhan, Bitmain’s co-founder. He said that they had reached an agreement and he had stepped away to launch Bitdeer and Matrixport. 

It was the first time that Wu had talked about the issue and there was a nondisclosure agreement that didn’t permit him to discuss specific matters. Wu said that it had been a tough time for him and his business. He said that the pressure of establishing a manufacturing business had built up and had led to a falling out between the two. While Matrixport has just received new funding and Bitdeer is preparing to list on the Nasdaq, Bitmain is also making progress in the industry. It revealed their most powerful bitcoin mining device in Dubai at the World Digital Mining Summit. 

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