Coinbase CEO Brian Armstrong has shared an ambitious forecast regarding the expansion of the crypto market’s total addressable market (TAM), positing that it will increase dramatically as more credible companies enter the space.

“I would much rather have every legitimate company now coming into crypto. This will 100x the TAM as crypto becomes the backbone of the entire global financial system, from capital markets to payments to debt, etc,” Armstrong stated in response to a comment from user @loganb.sui.

According to @loganb.sui, “It’s under-appreciated just how much @coinbase has done for the industry in the last four years from a legal and policy perspective.”
This user pointed out advancements in regulatory clarity and increased institutional engagement, which could lead to a more mature crypto market. However, they also noted that this evolution would bring intensified competition across all sectors of Coinbase’s operations.

In response, Armstrong emphasized the importance of embracing new opportunities:

“The water is warm, everyone should come in! This is the only way we’ll update the global financial system, providing true individual liberty and sovereignty for all.”
Coinbase Prepares for Launch of Bitcoin Yield Fund
Coinbase has announced that its Asset Management division is set to launch a Bitcoin yield fund aimed primarily at institutional investors outside of the U.S. The initiative intends to provide ways for these investors to earn returns on their Bitcoin holdings.
Sebastian Bea, President of Coinbase Asset Management, commented, “We believe the Bitcoin Yield Fund is particularly well-suited to the task, given its conservative and compliant investment strategy.”
Armstrong reassured stakeholders that “Coinbase will continue to lead as the primary financial account for anyone in crypto, with the most trusted and easiest-to-use products, leveraging our deep expertise in crypto.”

Key Takeaways

• Armstrong’s remarks come at a time when the crypto market is moving past years of regulatory challenges.
• With a 66% market share in the U.S. crypto trading space and around 10 million active users, Coinbase is positioned to thrive in the upcoming market phase despite growing competition.