The founder and CEO of the analysis firm CryptoQuant, Ki Young Ju, shared his opinion on the future of Bitcoin for the next decade. It states that by 2030 Satoshi Nakamoto’s vision will be fulfilled and the token will become a widely used currency. In that sense, people around the world will use BTC as a means of payment.
In a post on X, he emphasizes that in 6 years, the currency will begin to see use as a form of payment rather than a store of value. The businessman offers some reasons to reinforce this opinion. The first factor that comes up is the enormous increase in the difficulty of the network to generate new coins.
He points out that during the last 3 years the difficulty increased by 378%, which makes the sector exclusive for institutional ones. As everything indicates, this trend is irreversible and by 2030, the dominance of a few actors will make the currency much more stable.
Although its expected date is 2030, it states that the breaking point will be reached in 2028. At that time the fifth halving in the history of Bitcoin will occur. When this automatic event occurs, serious discussions about the use of Bitcoin as a means of payment will begin, says the CEO of CryptoQuant.
#Bitcoin will likely be used as a “currency” around 2030.
Bitcoin’s Mining difficulty, which reflects the intensity of competition, has consistently hit all-time highs, increasing by 378% over the past three years.
While 50 BTC could be mined with a single PC in 2009, it has… pic.twitter.com/lY8pRreZCl
— Ki Young Ju (@ki_young_ju) October 24, 2024
Stablecoin adoption will boost Bitcoin, says CryptoQuant founder
Another important factor that will lead to the increase in the adoption of BTC as a currency for payments and micropayments is the rise of stablecoins. In this field, there are currently immediate exchange mechanisms when making payments, which could further facilitate the usefulness of BTC as a currency.
For example, Avalanche is ready to launch a card with which you can pay with some tokens. This card will be valid anywhere in the world where VISA is accepted. The fact is that payments with these tokens are instantly transformed into their denomination in fiat money.
Something similar would happen with Bitcoin and stablecoins, the expert assumes. However, as long as the volatility of the pioneer Cryptocurrency drops, its path will be clear and it will not need other assets. “As volatility decreases, Bitcoin’s role as a currency becomes increasingly inevitable,” he emphasizes.
A fundamental aspect that should not be left aside is the poor scalability of the Bitcoin main network. This one is struggling and can’t process more than 7 transactions per second before getting stuck. This causes commissions to be absurdly high. However, this problem is theoretically solved with the Lightning Network second layer solution.
If merchants’ wallets operate through this L2, it can be said that there are no barriers to mass adoption of BTC. By the time people start processing Bitcoin transactions to make micropayments, Satoshi’s dream will have been fulfilled, Ju assumes.
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