CryptoQuant founder says Bitcoin will soon become a full-fledged currency
CryptoQuant founder says Bitcoin will soon become a full-fledged currency
As the cryptocurrency landscape continues to evolve, Ki Young Ju, the founder of CryptoQuant, has made a bold prediction: Bitcoin will soon transition into a fully-fledged currency by 2030.
This assertion comes amid increasing institutional interest and a broader acceptance of digital currencies in mainstream finance.
The CryptoQuant executive's optimism is rooted in Bitcoin's growing utility as a medium of exchange. He argues that recent developments, including regulatory clarity in various jurisdictions and enhanced infrastructure supporting cryptocurrency transactions, are paving the way for Bitcoin's acceptance as a legitimate currency. The rise of decentralized finance (DeFi) platforms and payment solutions integrating Bitcoin further bolster his case, signaling a shift in how the asset is perceived.
Ki Young Ju, said major fintech players are expected to drive mass adoption of stablecoins within three years.
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One of the key indicators Ju highlights is the growing number of merchants and businesses beginning to accept Bitcoin as a form of payment. According to him, as acceptance widens, consumer behavior will also change, with more individuals likely to use Bitcoin for everyday transactions. This change is vital for Bitcoin to fulfill its original vision as a peer-to-peer electronic cash system.
Ju also points to the increasing involvement of institutional investors as a crucial factor. As hedge funds and publicly traded companies add Bitcoin to their balance sheets, it enhances the cryptocurrency's legitimacy and stability. This trend not only provides Bitcoin with a more secure footing in the financial markets but also encourages retail investors to adopt the asset more readily.
Moreover, Ju emphasizes that technological advancements will play a critical role in Bitcoin's evolution. Innovations such as the Lightning Network, which enables faster and cheaper transactions, are essential for addressing Bitcoin's scalability challenges. With these developments, Bitcoin could offer a viable alternative to traditional currencies, making it more practical for daily use.
While the prediction is ambitious, Ju acknowledges the hurdles that remain. Regulatory scrutiny continues to loom over cryptocurrencies, and public perception is still a significant barrier to widespread adoption. However, he remains optimistic that the momentum building within the industry will outweigh these challenges.
The founder of CryptoQuant predicts that the halving of 2028 could be the beginning of a new phase in bitcoin's evolution. As bitcoin's volatility decreases over time, the likelihood of it being used as a currency may become more likely.
The implications of Bitcoin becoming a recognized currency could be profound. If Ju's forecast holds true, it may catalyze further innovation in the cryptocurrency space and inspire a new wave of digital finance solutions. As Bitcoin approaches this pivotal moment, stakeholders from various sectors will be watching closely, eager to see how this journey unfolds.
We also wrote earlier that, according to CryptoQuant, a key indicator - Net Taker Volume - turned positive for the first time since July. The net volume of BTC buyers signals a bullish shift.
Also read: Binance launches direct cryptocurrency sales to cards through Paymonade
