BitMEX CEO Says Cryptocurrency Could Become Legit Asset Class by 2029

BitMEX CEO Arthur Hayes says cryptocurrencies could evolve into legitimate asset class within the next decade, he said in an interview on the Laura Shin podcast Unchained crypto. 

Hayes says the small asset class of cryptocurrency carries “great potential” as a capital raising method and global funds transfer mechanism.

Although he called Bitcoin and other cryptocurrencies “still an experiment,” he said that over time it could develop into a viable asset class.

That would be a far quicker development than stocks. The first stock markets developed in the 1500s  but did not take hold worldwide until the 19th and 20th centuries when the United Kingdom and United States introduced their exchanges. Now, every developed has its own stock market.