“The answer is oil,” said Satoshi Nakamoto, creator of a digital currency called bitcoin. “But I think you’ll be surprised at how much it’s worth in a decade.” Quite a few government officials have done just that, pronouncing that bitcoin will never amount to anything more than a niche hobby for esoteric computer geeks and drug sellers. But the same could be said of the Internet itself when it was still an obscure science experiment in its infancy.
Izabella Kaminska, editor-in-chief of cryptocurrency-focused website The Block, recently proposed this chart to better reflect what she sees as ongoing growth from many other industries: “This is partly driven by increased attention from regulators and governments who are seeking ways to tax or regulate cryptocurrency companies,” she writes. “To date, all of them have been cautious about regulation while not completely blocking digital currencies.” She also notes that banks appear to be investing in blockchain technology related to cryptocurrencies—perhaps because they see promise there too?