CryptoQuant CEO Predicts Bitcoin to Become Currency Within Six Years
- Bitcoin’s mining difficulty has surged 378% in three years, signaling the growing competition among institutional-backed miners.
- As institutional involvement grows, Bitcoin’s volatility decreases, boosting its potential to become a low-volatility currency by 2030.
- The 2028 Bitcoin halving is expected to drive discussions on its use as currency, with stablecoin adoption playing a key role.
Bitcoin might shift from being only a value holder to becoming a regular currency, by 2030 according to Ki Young Ju, who leads and founded CryptoQuant. Ju gave several reasons why this change could happen in the coming six years, noting the main points in Bitcoin’s growth and the crypto space.
Increased Mining Competition Highlights Bitcoin’s Maturation
Ju pointed to the astonishing surge in Bitcoin mining difficulty as one of the big contributors. Mining difficulty has surged 378% over three years, reflective of the keen competition amongst miners. In 2009, when Bitcoin launched, mining 50 Bitcoins required only a single PC. However, today, mining activities are dominated by huge corporations supported by institutional investors, and this has made it far more challenging for ordinary individuals to take part in mining. This, Ju believes, reflects “the continued maturation of Bitcoin as a technology”.
Reduced Volatility to Boost Bitcoin’s Potential as a Currency
Besides, Ju mentioned the shrinking volatility of Bitcoin as one more critical reason that could make it a currency. The more financial institutions involved in the process with Bitcoin, the better it will be an attractive investment asset, hence a more stable price. This means greater chances, in turn, for Bitcoin to become a means of a low-volatility currency. Ju thinks these changes will be important in positioning Bitcoin as an everyday currency by 2030.
Ju emphasized that, in the future, the adoption of stablecoins will be vital for the future of Bitcoin as a form of currency. Companies like Stripe are exploring the stablecoin infrastructure to create a gateway to broader cryptocurrency usage. This stablecoin adoption will be helpful in the way of Bitcoin being thought of as a legitimate currency.
Read CRYPTONEWSLAND on google news2028 Bitcoin Halving: A Turning Point
He predicted that the second turning point would be the future Bitcoin halving in April 2028. The event will further cut supply and spur widespread debates over the role of Bitcoin within the monetary ecosystem. With reduced Bitcoin volatility, the matured ecosystem will provide greater assurance of Bitcoin being used for day-to-day transactions.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
DWF Labs transfers 150 million ORBS to a new address, worth $3.43 million
Trump Media & Technology Group (DJT.O) rose more than 8% before the market opened