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CryptoQuant CEO: Bitcoin Likely to Function as “Currency” Around 2030

CryptoQuant CEO: Bitcoin Likely to Function as “Currency” Around 2030

Bitget2024/10/24 08:12

On October 24th, CryptoQuant CEO Ki Young Ju posted on the X platform that Bitcoin is likely to fulfill its function as a “currency” by around 2030. According to the data, the difficulty of mining bitcoin, which reflects the intensity of competition, has increased by 378 percent over the past three years and continues to hit record highs.

Compared to 2009, when a single PC could mine 50 BTC, bitcoin mining has evolved into an industry dominated by large mining companies backed by institutional investors, making it much more difficult for individual miners to participate, according to Ki Young Ju. As institutional participation increases and barriers to entry rise, bitcoin will become less volatile and less of an investment. Meanwhile, major fintech companies are expected to drive mass adoption of stablecoin within three years as companies like Stripe enter the stablecoin infrastructure space.

Ki Young Ju believes that during the next halving period in April 2028, as volatility decreases further and the ecosystem matures, the potential for Bitcoin to serve as a low-volatility “currency” will begin to be seriously discussed.

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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.

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