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The founder and CEO of on-chain data aggregator CryptoQuant says he believes Satoshi Nakamoto’s original vision for Bitcoin is likely to finally come true within six years. He gave some reasons.
“Bitcoin is likely to become a currency by 2030.”
Ki Young Ju, founder and CEO of CryptoQuant, shared his expectations for the future of Bitcoin as a currency (rather than a store of value) with the Bitcoin community. He believes that the flagship cryptocurrency is already likely to be used as a real currency within six years, and shared some of the big reasons why.
First of all, Ju mentioned that Bitcoin mining difficulty has increased by a staggering 378% over the past three years as a result of intense competition in this space. He said that when Bitcoin was launched in 2009, it was easy to mine 50 Bitcoins on a single PC, but now it has become very difficult for individual miners to succeed in this field. Explained. The mining industry is currently dominated by large corporations, often backed by institutional investors.
#bitcoin Around 2030, it will be used as a “currency”.
Bitcoin mining difficulty, which reflects the intensity of competition, is at an all-time high and has increased by 378% over the past three years.
In 2009, one PC could mine 50 BTC, but… pic.twitter.com/lY8pRreZCl
— Ki Young-ju (@ki_young_ju) October 24, 2024
The second reason is that, in addition to Bitcoin’s attractiveness as an investment asset, the increasing involvement of financial institutions has gradually reduced Bitcoin’s volatility. Therefore, Bitcoin’s potential as a low-volatility currency will increase many times over, Ju said.
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Satoshi’s Bitcoin vision comes true
Ki Young Ju believes that the spread of stablecoins is important for Bitcoin to become a “currency”. Therefore, companies like Stripe are starting to enter the stablecoin infrastructure industry, he said.
However, according to Ju, the key date is April 2028, which is when the next Bitcoin halving will take place. If that happens, he believes there will be a serious discussion about the possibility of Bitcoin being used as a currency. According to him, the reason for this is lower BTC volatility and further maturation of the BTC ecosystem.
Finally, he notes that a major driver “increasing the likelihood of Bitcoin being used as a currency” is the growing familiarity with cryptocurrency wallets and the increased adoption of stablecoins.
“As volatility declines, Bitcoin’s role as a currency becomes increasingly inevitable,” Ju concluded. He reminded the community that Satoshi’s original vision for Bitcoin was “P2P electronic cash” rather than digital gold, and that this vision could be realized by 2030.
