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Bitcoin Could Overcome US Dollar in Size Next Decade - Analyst
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Bitcoin Could Overcome US Dollar in Size Next Decade - Analyst

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Alexey BondarevJun, 27 2024 11:10
Bitcoin Could Overcome US Dollar in Size Next Decade - Analyst

A new analysis suggests Bitcoin could rival the US dollar in size. This projection hinges on significant adoption growth.

Analyst Willy Woo shared his insights on social media platform X. He noted a shift in financial perceptions. "The financial world now believes Bitcoin is a fast emerging asset class," Woo stated.

Currently, Bitcoin's market cap stands at $1.2 trillion. This falls short of established asset classes. These typically reach "tens of trillion" in value, according to Woo.

The analyst identified three key beliefs in financial circles. First, Bitcoin could grow tenfold. Second, it might rival the USD in size. Third, it could become a reserve asset.

Woo's analysis centers on Bitcoin's adoption curve. He compared it to internet adoption rates.

The curve plots global population usage percentage. Woo synthesized various cryptocurrency adoption studies to create it.

Current Bitcoin usage equates to 4.7% of the world population. Woo suggests Bitcoin adoption could accelerate. He thinks this projection follows the internet's s-curve pattern, if you remember the pattern of web adoption back in 2000s.

If he is right, Bitcoin could challenge the USD at 25% to 40% adoption. And this is quite possible as soon as in 2030s.

The accuracy of this projection remains uncertain. Bitcoin's adoption curve may differ from the internet's trajectory.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.
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