Increasing institutional investments and reduced market volatility are paving the way for Bitcoin to become a widely accepted daily payment tool by 2030. CryptoQuant CEO Ki Young Ju recently shared insights on how Bitcoin’s evolution could make it a practical digital currency for everyday use.
Bitcoin’s Potential as a Practical Currency for Daily Use
Ju suggests that as institutional support strengthens and the cryptocurrency ecosystem matures, Bitcoin’s volatility will decrease, enhancing its appeal as a digital currency beyond an investment vehicle. Significant changes in Bitcoin mining dynamics support this shift, with modern mining now primarily conducted by high-tech institutional players. Mining difficulty has surged by 378% over the past three years, attracting institutional investment and stabilizing Bitcoin’s price. This evolution aligns with Bitcoin’s foundational goal of becoming a widely used payment medium.
#Bitcoin will likely be used as a “currency” around 2030.
Bitcoin’s mining difficulty, which reflects the intensity of competition, has consistently hit all-time highs, increasing by 378% over the past three years.
While 50 BTC could be mined with a single PC in 2009, it has… pic.twitter.com/lY8pRreZCl
— Ki Young Ju (@ki_young_ju) October 24, 2024
The Role of Bitcoin Halving in Future Currency Use
Ju also anticipates the upcoming Bitcoin halving in 2028 as a pivotal event that may increase discussions around Bitcoin’s potential as a functional currency. As volatility declines, Bitcoin could gain acceptance as a reliable exchange medium similar to traditional currencies. With growing institutional backing and user trust, Bitcoin could emerge as a prominent force in the global digital economy.
Stablecoins as a Bridge to Bitcoin Adoption
Additionally, Ju points to the rising impact of stablecoins. Major digital payment companies like Stripe entering the stablecoin ecosystem are driving blockchain familiarity among everyday users. Stablecoins could act as a bridge, easing users into blockchain wallets and potentially increasing Bitcoin’s role as a peer-to-peer digital cash option.
