Coinbase CEO Brian Armstrong has declared that the United States is entering a "new era" for cryptocurrency, forecasting that by 2030, 10% of the global Gross Domestic Product (GDP) will be transacted or represented on crypto networks.
Armstrong made these remarks during Coinbase's Q4 2024 earnings call, drawing a parallel between the current corporate rush to integrate crypto technology and the early 2000s, when every company had to adapt to the internet. He stated, "On-chain is the new online."
The Scale of the Prediction
Should this prediction hold true, it represents a monumental shift in the global financial system. Based on current World Bank data, which estimates global GDP at over $100 trillion, this would mean more than $10 trillion in value would be tokenized or moved on-chain.
This massive transition points toward an increasingly digital and decentralized global economy where blockchain technology plays a central role in value exchange.
The US as a Crypto Leader
Armstrong emphasized that the United States, which accounts for roughly 30% of global GDP, is poised to lead this charge. He credited the current political climate, noting that the US now has the "most pro-crypto Congress" it has ever seen.
He added that the US is making significant strides in stablecoin and market structure legislation, a move he believes other nations will feel pressured to follow. "Given US leadership," Armstrong said, "other countries are watching and will face pressure to embrace crypto."
This regulatory progress was further highlighted recently when Federal Reserve Governor Christopher Waller called for a clear regulatory framework to allow banks to issue dollar-pegged stablecoins.
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Coinbase's Role and Record Earnings
Positioning his company at the forefront of this shift, Armstrong told investors that "Coinbase will be the preferred partner for many companies to help build this ecosystem."
This confidence is backed by strong performance. Coinbase reported a massive quarterly revenue of $2.3 billion for Q4 2024—an 88% increase from the previous quarter and its strongest quarter in over a year, far exceeding analyst expectations.
The company plans to focus on "growing revenue through existing products" and driving crypto adoption in emerging sectors where the technology is achieving scale, thereby "laying the foundation for the next decade of growth."
The "On-Chain" Future
The core of Armstrong's argument is that moving value and assets on-chain is becoming a fundamental business imperative, much like establishing a website was two decades ago. This tokenization of real-world assets (RWAs) is seen by many on Wall Street and in tech as the next major evolution for blockchain, moving beyond speculative assets to digitize everything from bonds to real estate.
Frequently Asked Questions
What does "10% of global GDP on crypto networks" mean?
It means that a significant portion of the world's economic activity, measured by the value of goods and services produced, will be facilitated through cryptocurrency networks. This could involve using crypto for payments, or more likely, the tokenization of real-world assets like stocks, bonds, and property on blockchains.
Why does the CEO believe the US will lead this change?
Armstrong cites a uniquely supportive political environment, including a pro-crypto Congress and advancing legislation for stablecoins and market structure. He believes the US's economic influence will set a standard that other countries will follow.
What is tokenization?
Tokenization is the process of converting rights to a real-world asset into a digital token on a blockchain. This can make buying, selling, and trading these assets more efficient, fractional, and transparent.
How did Coinbase perform financially?
Coinbase had an exceptionally strong fourth quarter in 2024, reporting $2.3 billion in total revenue. This represents an 88% increase from the previous quarter, greatly surpassing Wall Street expectations.
What is a stablecoin?
A stablecoin is a type of cryptocurrency whose value is pegged to a stable asset, like the US dollar. They are designed to combine the instant processing and security of crypto with the stable value of traditional currency.
Will other countries adopt similar crypto frameworks?
Armstrong predicts they will, due to the competitive pressure and regulatory clarity emerging from the United States. Other nations may follow to avoid being left behind in technological and financial innovation.