In a recent interview with CNBC, the CEO of Bitmain, a giant mining hardware manufacturer, said that he expects Bitcoin’s price to triple to $50,000 by the year 2040. By 2040, the mining chips will be able to perform over one quadrillion (1,000,000,000,000,000) hashes per second.
The more people invest in crypto, the more investors there are to buy the crypto. When Bitcoin was introduced in 2009, there were around 20 million Bitcoin-investors. However, as isgworld has reported, the number of Bitcoin-investors is now over 100 million. And looking at the growth of crypto-investors (people who make a living by buying, holding and trading crypto-currencies) in the past years, there is a high chance that it will continue to make new highs.
Bitcoin rose more than 4,000% in 2017, breaking through the $20,000 barrier and hitting a new all-time high of $19,783.3. That is an impressive feat, but there are still many people who do not understand the technology or the underlying drivers behind it. As a result, there is a growing call for a “stable coin” to be used as a store of value and as a way to keep the cryptocurrency at a fixed value.. Read more about future of cryptocurrency 2021 and let us know what you think.
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News about Bitcoin
- Experts predict that “hyperbitcoinization” will occur around 2040.
- Bitcoin is expected to overtake fiat money, according to 50% of the suspects.
- Bitcoin was unable to switch to Proof-of-Stake.
According to a recent poll, many cryptocurrency and fintech experts anticipate a “hyperbitcoinization,” or the time when Bitcoin overtakes global banking, to occur by 2040. The current price of Bitcoin (BTC) has analysts feeling pessimistic about the world’s largest cryptocurrency.
Furthermore, according to a recent study performed by personal financial comparison site Finder.com. By 2040, almost half of the suspects think Bitcoin will outperform fiat money, or central bank-issued currencies.
The study, according to Finder.com, is based on a panel of 42 cryptocurrency specialists. The study indicates that Bitcoin’s price drop from its all-time high in April had little effect on crypto experts’ long-term outlook.
Furthermore, almost half of those polled expect to see Bitcoin dominate global banking, also known as hyperbitcoinization, within the next 20 years, according to the newest study. Furthermore, one-third of those polled believe the catastrophe will occur before 2035. While 44% predicted that Bitcoin (BTC) will never gain traction and would never become the main form of global money.
Furthermore, many of the respondents said that El Salvador’s decision to recognize Bitcoin as legal money is just the beginning of the country’s acceptance of Bitcoin (BTC) as the main currency. Within the next ten years, 33% of respondents anticipate genuine cryptocurrency to become the most popular form of money in emerging or developing nations. Another 21% of cryptocurrency specialists believe that adoption will occur. However, it will take time, maybe ten years or more. Furthermore, most experts believe that even if Bitcoin wanted to, it couldn’t switch to Proof-of-Stake.
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Frequently Asked Questions
What will crypto be worth in 2030?
In 2030, it is expected that crypto will be worth $100,000.
What will Bitcoin be worth 2050?
Bitcoin will be worth $1,000,000 by 2050.
What will Bitcoin reach in 2025?
Bitcoin will reach a value of $1 million by the year 2025.
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