Well-known digital asset investor Dan Tapiero is merging private equity firms 10T Holdings and 1RoundTable Partners under a new brand 50T, reflecting his forecast that the digital asset ecosystem will reach a market value of $50 trillion in the next decade.
“50T is a natural evolution from our original thesis in 2020 when we launched 10T with the belief that the digital asset ecosystem would grow from $300 billion to $10 trillion in 10 years,” Tapiero said in a Tuesday press release.
“Today, we estimate that we’re already at $5 trillion, far exceeding our initial timeline, which is why we’re adjusting our outlook upward,” he said. “Recent successes like the Circle IPO and Deribit acquisition demonstrate the maturity of this sector and validate our investment thesis that all value will eventually move on-chain.”
USDC stablecoin issuer Circle surged nearly 10-fold from its initial price following its the stock market debut last month, while crypto exchange Coinbase acquired Deribit for $2.9 billion in May.
Funds under 50T were investors in Circle, Deribit, and digital trading platform Etoro, which also went public recently, and other portfolio companies are also gearing towards going public, the press release said.
50T is also launching a $500 million growth equity fund dubbed 50T Fund alongside the rebrand.
It’s a closed-end fund with a ten-year horizon, designed to back later-stage companies building out core infrastructure in blockchain and web3, with a first close planned in Q4 2025.