The head of the cryptocurrency exchange Coinbase is confident that bitcoin will become more popular than gold

Coinbase CEO Brian Armstrong has adjusted his estimates of the timing of global cryptocurrency adoption, saying that the industry is still in its early stages.

In a new episode of the Coinbase podcast «Around the Block,» Armstrong noted that bitcoin’s market capitalization is not yet sufficient for BTC to be perceived as a serious asset that can act as a safe haven for investors.

However, Armstrong is confident that BTC will become the «new gold» over the next decade:

«Usually, in unfavorable macroeconomic conditions, we see a flight to safety. In the traditional economy, it’s always been gold… During this downturn, we realized that the crypto economy just doesn’t represent a significant enough percentage of the global economy, of the economy in general, to really treat CTS as digital gold.

I think that will change over time… In the next five or ten years, when the crypto economy does represent a larger percentage of global GDP, people will treat Crypto as the 'new gold', that’s what it is."