The bitcoin price soared to almost $70,000 per bitcoin late last year, up from under $10,000 two years ago, while the ethereum price has seen a similar rise.
“My guess is that in 10-20 years, we’ll see a substantial portion of GDP happening in the crypto economy,” said Armstrong, speaking at the Milken Institute Global Conference this week in comments first reported by Bloomberg.
Meta, under chief executive Mark Zuckerberg, is looking to expand into the so-called metaverse digital world where NFTs are expected to play a significant role.
Financial giants on Wall Street have also slowly started to roll out crypto services to clients.
“It’s been harder and harder to meet a true crypto skeptic in D.C.,” Armstrong added, speculating that around half of people in Washington are now pro-crypto.