According to Ric Edelman, the crypto market is still in its infancy


Famed financial author Ric Edelman said that crypto is still in its very early stages, comparing it to the internet just before the big boom. The crypto market, which is just over a decade old, has grown exponentially in its short time of existence. At its peak, the market grew to $3 trillion, surpassing the valuation of some of the world’s most valuable companies. Despite this growth, the market still has a lot to grow, and Edelman believes this is just the beginning.

Comparing Crypto to the Internet

It is estimated that there are currently 130 million users of the crypto market. That number is up from previous years, but still remains a tiny fraction of the world’s population yet to hit the market. Speaking to CNBC, Edelman explained that the crypto market today is similar in its growth pattern to what the internet was 20 or 30 years ago.

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This isn’t the first time space has been compared to the growth of the internet. Crypto’s growth pattern has closely mirrored that of the internet, albeit at a faster pace, and if history is to be followed, the next five years could see an explosion in cryptocurrency adoption.

Edelman goes on to say that crypto is an innovative technology that enables businesses to operate faster, which is fueling adoption of digital assets. Basically, the market is still in its infancy and has yet to see real growth.

“It’s really like the internet was 20 or 30 years ago. We have to realize that this only happens once in a generation,” Edelman told CNBC. “Innovative technology enables companies to operate faster, cheaper, with greater transparency and greater security, and that is why companies are falling beyond themselves with the development of blockchain technology.”

According to Ric Edelman, the crypto market is still in its infancy

Cryptomarket recovers above $2 trillion | Source: Crypto Total Market Cap on TradingView.com

Prepare for the explosion

Because crypto’s growth is highly correlated with that of the internet, Edelman places the current growth of the market where the internet was in the 1990s. Keep in mind that the internet really took off in the late ’90s when it became the “thing” to have. It’s nearing that point for crypto.

“Now we are benefiting from the experience. We know how the internet exploded in the 1990s. That’s where we are today — incredibly early for investors who are realizing opportunities that won’t exist in 10 or 15 years like they exist today.”

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Additionally, Edelman adds that if blockchain technology can be implemented by the transportation department, which has nothing to do with moving money, it demonstrates the broad and significant value of the technology.

The crypto market has now recovered to the $2 trillion mark after a series of crashes and dips that shook the space. As digital assets begin another recovery trend, this number will continue to rise.

Featured image from Daily Advent, chart from TradingView.com
According to Ric Edelman, the crypto market is still in its infancy

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