- October 24, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Ki Young Ju, CEO of CryptoQuant, predicts that Bitcoin will likely evolve into a widely accepted “currency” by 2030, aligning with the original vision of its pseudonymous creator, Satoshi Nakamoto.
Ju shared this outlook in an Oct. 24 post on X (formerly Twitter).
‘Declining volatility’
Ju pointed out that Bitcoin’s mining difficulty has surged by 378% over the past three years, driven by increased competition in the space. He explained that when Bitcoin first launched in 2009, individual miners could mine 50 Bitcoin with a simple PC.
Today, however, mining is dominated by large corporations backed by institutional investors, making it almost impossible for individuals to compete. Notably, CryptoSlate Insights has projected that Bitcoin’s mining difficulty could hit 100 trillion before the end of this year.
Ju noted that as more financial institutions become involved in crypto, Bitcoin is increasingly seen as a stable investment, reflected in the top asset’s declining volatility. He said this reduced volatility strengthens BTC’s potential as a functional currency.
Ju also emphasized the role of stablecoins in Bitcoin’s future as a currency. He pointed to companies like Stripe that are building infrastructure for stablecoin transactions, signaling the growing importance of this sector in the broader crypto ecosystem.
2028 Bitcoin halving
Ju said the next Bitcoin halving event in April 2028 would be crucial in BTC’s journey toward becoming a true currency.
He believes this event will trigger more serious discussions about Bitcoin’s viability as a currency. By then, the top asset’s volatility will likely have decreased further, and its ecosystem will have matured even more.
Ju concluded that the increasing adoption of crypto wallets and stablecoins will play a pivotal role in positioning BTC as a currency. As these technologies become more mainstream, Bitcoin’s role as a stable medium of exchange will become “inevitable.”
In his final remarks, Ju said:
“Satoshi aimed for Bitcoin to be ‘P2P Electronic Cash,’ not digital gold. His vision may be realized by 2030 through the maturation of Bitcoin’s ecosystem and the reduction of its volatility.”
The post CryptoQuant CEO predicts Bitcoin to mature into an accepted global currency within a decade appeared first on CryptoSlate.
