Coinspeaker Bitcoin Could Become Global Currency by 2030, Says CryptoQuant CEO
For long, Bitcoin BTC $67 636 24h volatility: 1.4% Market cap: $1.34 T Vol. 24h: $39.36 B has been tipped as a reliable store of value and a game changer when it comes to investments. However, an entirely new look into its future may have brought about discussions that were previously unimagined.
While the cryptocurrency has already forged a name for itself as probably the biggest hedge against inflation, it appears that the future holds even more promises.
According to Ki Young Ju, CEO of CryptoQuant, Bitcoin could become a stable currency by 2030. If it is able to achieve this stability, then it just might attain the status of being a global currency.
Ju’s prediction hinges on what he says is an increasing institutional investment in Bitcoin mining and other related operations. This development has brought about a 378% rise in Bitcoin mining difficulty over the past three years, a surge driven by big players entering the mining industry.
Institutional Investors May Drive Bitcoin toward Stability
Meanwhile, Ju is of the opinion that the continued rise in mining difficulty could be a big positive for BTC. He believes that this may just be what it needs to turn from a speculative investment into a stable currency.
As is well known, Bitcoin goes hand in hand with volatility, often making it unreliable for day-to-day use. That is, as opposed to traditional currencies.
With the growing involvement of large financial institutions, however, Ju says the stability issue could now turn out to be a thing of the past.
In a recent post on X, Ju highlighted that major financial technology companies (fintech) are expected to drive the mass adoption of stablecoins within the next three years. Stablecoins are digital currencies designed to reduce volatility, often backed by stable assets like the US dollar. Ju predicts that by 2028 when Bitcoin undergoes its next “halving event”, the conversation around Bitcoin becoming a mainstream currency will intensify.
In the meantime, many factors point to the fact that Bitcoin’s infamous price swings may start to lessen soon.
There is an angle on Layer-2 solutions, such as the Lightning Network. So far, these L2s have lagged behind venture capital-backed blockchain alternatives. However, as Ju claims, the success of these L2s also depends on the amount of institutional support they receive. This ultimately helps Bitcoin to handle more transactions efficiently.
Meanwhile, it might be worth mentioning that Bitcoin L2s face competition from alternative solutions like Wrapped Bitcoin WBTC $67 503 24h volatility: 1.4% Market cap: $9.92 B Vol. 24h: $200.83 M , which integrates BTC into various ecosystems without the hassles that come with the L2 infrastructure.
What’s Next?
Whether or not Bitcoin will become a stable currency in the future remains entirely dependent on its price. Currently, the $65,000 price level has become a crucial support point after Bitcoin recently hit $69,000, the highest it has reached since June.
Analysts, including Keith Alan, co-founder of Material Indicators, have predicted that if Bitcoin can hold above its 21-week moving average, a short-term uptrend could continue. Some experts even suggest that Bitcoin could retest its all-time high before the end of the year. However, macroeconomic factors may yet affect its performance.
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Bitcoin Could Become Global Currency by 2030, Says CryptoQuant CEO
