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Since the advent of blockchain technology, there has been a rush of new financial opportunities available to savvy investors. Amongst the most successful of these has been Bitcoin, which has gone from an obscure cryptocurrency to a possible contender for the global currency title. That growth has been fuelled by the increasing adoption of the crypto asset as more and more people get acquainted with digital currencies.
The success of Bitcoin is mainly due to the blockchain, the distributed ledger technology that underpins it. Blockchain technologies offer a secure, efficient way to facilitate financial transactions without needing a third party such as a bank or financial institution.
This has made Bitcoin attractive to individual and institutional investors looking for an alternative to the fiat currencies market.
According to a Bankless Times analysis, Bitcoin would be an official currency by 2045.
Bitcoin is Following The Path of Other Disruptive Technologies
"Our research suggests that the world will have adopted Bitcoin payments by 2045, based on data from historical adoption curves. These point to Bitcoin global adoption reaching 65% by that year," says Jonathan Merry, CEO of Bankless Times.
So far, Bitcoin adoption has followed the pattern of other disruptive technologies, which points to exponential growth in the next two decades. Merry insists that the growing number of crypto investors will push up the global Bitcoin demand accelerating its global adoption.
10% Of The Global Population Will Have Adopted BTC by 2030
Bankless Times bases its prediction on a recent Blockware Solutions report on Bitcoin adoption. The latter had made projections on the crypto asset's growth based on the average and weighted average of the historical tech adoption curves. Likewise, Blockware's survey considered Bitcoin's adoption growth rate.
The firm was bullish that BTC adoption would reach 10% of the global population by 2030. It based its conclusions on two data sets; Bitcoin's Cumulative Sum of Net Entities Growth and its CAGR of approximately 60%.
