Analyst Willy Woo explains when Bitcoin will be able to develop enough to rival the U.S. dollar (USD) based on its historical adoption curve. According to Woo, the financial community now sees Bitcoin as a fast-rising asset class. However, the total market capitalization of the currency is currently only around $1.20 trillion, while analysts point out that the value of the asset class is usually expressed in tens of trillions of dollars. According to Woo, this expectation of BTC means that the financial community believes three things: BTC will grow at least tenfold from now on (break through the $10 trillion mark), rival the U.S. dollar in size, and become a reserve asset.
Woo referenced the "adoption" curve of cryptocurrencies. As can be seen from the chart, according to the estimates of the analyst model, the number of users of Bitcoin is currently equivalent to around 4.7% of the world's population. If the S curve of the Internet continues, BTC may still be in its early stages. Assuming this is indeed the case, the number of users of the token will accelerate from now on.
Woo believes that this will happen when the curve enters the 25% to 40% range, which could happen in the 2030s.
Analysts: Bitcoin may rival the dollar in size
2024-06-27 04:13:40
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Cyber: Official Discord Attacked, Team Warns Not to Click Any LinkNext article：
市场消息：软银将以30亿美元估值支持AI公司Perplexity
