Bitcoin (BTC) Could See Satoshi's Vision of Digital Cash Come to Fruition by 2030, Says CryptoQuant CEO
- Susan SarandonOriginal
- 2024-10-28 10:06:17752browse
In a new post on the social media platform X, Ki Young Ju says that the top crypto asset by market cap could start to be seriously considered as a form of digital cash after its 2028 halving when miner rewards are slashed in half.
Market intelligence firm CryptoQuant's CEO believes that Satoshi Nakamoto's vision for Bitcoin (BTC) could be realized by 2030.
In a recent post on the social media platform X, Ki Young Ju stated that the leading crypto asset by market capitalization could begin to be seriously considered as a form of digital cash after the 2028 halving, which will see miner rewards slashed in half.
“Around April 2028, during the next halving, Bitcoin's potential use as a ‘currency’ will start to be seriously discussed as volatility decreases further and the ecosystem matures…
Satoshi aimed for Bitcoin to be ‘P2P (peer-to-peer) 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.”
Ju then listed the key factors that will contribute to the crypto king's evolution into a widely used electronic cash. He maintains that BTC's maturation as an asset will decrease its volatility, setting the stage for Bitcoin to become a medium of exchange.
“Large mining companies, backed by institutional investors, now dominate the mining industry. As institutional participation increases, entry barriers rise, decreasing Bitcoin's volatility and its appeal as an investment asset…
Familiarity with blockchain wallets and stablecoin adoption will boost Bitcoin's likelihood of being used as a currency. This may occur through protocol improvements, L2 (layer-2) networks, or Wrapped BTC. As volatility decreases, Bitcoin's role as a currency becomes increasingly inevitable.”
At the time of writing, Bitcoin is trading at $67,048, up marginally over the last 24 hours.
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