Recently Coinbase became the leading US exchange to become the first crypto company to enter the Fortune 500 with billions in revenue.
Coinbase Global (COIN) has revenues of over $7.8 billion by 2021, thus according to Fortune’s Top 500 list rated COIN at #437 positions in U.S Companies Rankings.
The first crypto company to join the Coinbase list was released on Monday and was first listed on Nasdaq in April 2021.
Coinbase has thus become the first crypto company to join the ranking list that was released on Monday, it was first listed on Nasdaq back in April 2021.
Coinbase is one of the few “pandemic winners” that have overcome the situations to make a profit despite the strange circumstances during the second year of the global pandemic, says Fortune editor-in-chief Alyson Shontell.
While Coinbase’s profit was a milestone for the company, on the other hand, the # 1 Fortune 500 company lost $7.8 billion compared to Walmart with revenue of $573 billion.
Brian Armstrong, CEO of Coinbase, expects the company and the whole crypto space will continue to grow while predicting that the crypto economy will explode in the coming years and at a point it will be 15% of the global GDP.
“In my view, it’s like the early days of the Internet, you saw the birth of e-commerce in the late 90s or early 2000s and now 20 years down the lane, I think e-commerce is like 15% of the global GDP.
Relating to the same scenario, if you go 20 years from here, the crypto economy would represent up to 15% of global GDP.
Armstrong said that he believes corporations will soon adopt cryptocurrencies in the future to the same scale on which they currently use the Internet.
“I think because a lot of companies are using the internet now, the same way I think a lot of companies in the future will also use crypto in some way or other, format or form.”