The global cryptocurrency market is on the brink of extraordinary expansion, with a potential to soar to $200 trillion in the next ten years, as per Yat Siu, the co-founder of Animoca Brands, a prominent Hong Kong-based Web3 game software company and venture capital firm.

2–3x Growth Within 18 Months

Presently valued at around $2.7 trillion according to data from crypto aggregator CoinGecko, Siu anticipates a doubling or tripling of the cryptocurrency market in the near future. Speaking on The Valr Podcast on May 28, Siu expressed strong confidence in the industry's prospects stating, "In the near term — within 12 to 18 months — we can conceive of a doubling or tripling of the space."

Siu went further to elaborate on his ambitious prediction, proposing that over a five to ten-year timeframe, the market could surge by 100 to 200 times, potentially reaching an astounding valuation of $200 trillion or beyond. During a conversation with Farzam Ehsani, the co-founder of Valr, Siu mentioned, "I think we could reach that kind of number within a decade."

This remarkable growth, according to Siu, will be fueled by billions of individuals becoming digital property owners within the Web3 ecosystem. Siu highlighted, "It is entirely conceivable that we're going to have a billion property owners because we're going to have a billion token holders. This is not possible in the physical world."

Asia as the Fastest Growing Market

Siu also emphasized the regional dynamics within the Web3 domain, pointing out that Asia has emerged as the swiftest-growing market. He noted that Asia, particularly regions like Southeast Asia, Hong Kong, and Japan, is leading the way in Web3 adoption. In contrast, jurisdictions such as the United States are lagging behind, primarily due to regulatory uncertainties.

Siu highlighted the shift in leadership dynamics in the technological realm, mentioning that historically, the United States has taken the lead, but Web3 is proving to be an exception. He believes that Asia will continue to spearhead the Web3 movement in the foreseeable future.

Bullish Outlook on Bitcoin

Siu's positive outlook on the future of the Web3 market aligns with his bullish perspective on Bitcoin, which currently boasts a market capitalization of $1.3 trillion. Siu recently made another bold prediction, expressing confidence that Bitcoin will eventually reach $1 million. Although Bitcoin is presently trading at $68,346, a far cry from his million-dollar prediction, Siu stated at Web Summit Rio that it will achieve this milestone "over time."

Siu's optimism is not just limited to verbal predictions but is demonstrated through his company's actions as well. In early May, Animoca Brands announced its foray into the Bitcoin ecosystem by endorsing the Opal Foundation, a Bitcoin-centric protocol, suggesting that Bitcoin is now well-positioned for Web3 integration.

Siu's forecasts mirror the prevailing optimism in the cryptocurrency sector, where rapid technological progress and rising adoption rates are anticipated to propel substantial growth. As more individuals and institutions embrace digital assets, the potential for exponential market expansion becomes increasingly plausible.