Bitcoin Adoption Could Hit 90% by 2030, says Off The Chain Capital’s Founder
Bitcoin’s adoption is a spontaneous process as it continues to grow at a rapid speed besides harsh criticism over the past recent years. According to an industry’s prominent personality, Bitcoin will get adoption of 90% in the decade ahead.
Bitcoin Adoption in the US
As big players and institutional investors have started taking a serious interest in digital assets, the adoption of cryptocurrency is becoming a non-stop process in the next years. According to Brian Estes, the founder of the investment company Off The Chain Capital believes that 90% of the US citizens will be using digital currency by 2030. “I think in 2029, 2030, when 90% of U.S. households and people in the United States use cryptocurrency and Bitcoin,” Estes added.
Estes claims cryptocurrency will become an integral part of not just the US economy but the world’s economy. And it will not disrupt the economy anymore after getting recognition on a large scale.
On the basis of graphical representation known as S-curve, Bitcoin took ten years to achieve 10% adoption and it would take just ten years more to reach 90%.
According to the data published by consultancy company, Cornerstone Advisors, at least 15% of the 18-above population has exposure to digital assets in one way or the other. In an interview with CNN, Brian Brooks, the US Comptroller of the Currency, also endorsed a 15% estimate.
0-10% Adoption in the Past Ten Years
In 2009, no one was interested in holding cryptocurrency, but according to reports in 2019, 10% of the US citizens were in touched with crypto assets. According to the data published by Blockchain Capital, almost 11% of the US population was holding cryptocurrency. “It took 10 years for Bitcoin to go from 0–10% adoption…We’re right on track to hit 90% in the year 2029,” said Estes.
Large scale companies have entered into the crypto space since the beginning of 2020. PayPal is the latest big entry into the industry as it has announced to support, selling, buying, and storing of cryptocurrency. MicroStrategy’s investment and Square’s holding of Bitcoin are the latest examples, which show an influx of macro investors in the crypto space.
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