Why bitcoin adoption will accelerate over the next decade




Quick take

1 minute read

Over the course of this year, mainstream adoption has been plentiful. Many people have looked towards the cryptocurrency industry as a result of the COVID-19 pandemic and the economic turmoil that came afterwards.

Over the course of this year, mainstream adoption has been plentiful. Many people have looked towards the cryptocurrency industry as a result of the COVID-19 pandemic and the economic turmoil that came afterwards.

With big mainstream financial players coming into the industry, the question must be asked as to how long it will take for bitcoin to become a day-to-day asset for everyone.

Brian Estes, the founder of the investment company known as Off The Chain Capital believes that there are about 10 years remaining until the leading cryptocurrency becomes “normal“ for everyone.

Speaking in an interview earlier this year with CT, Brian said:

“I think in 2029, 2030, when 90% of U.S. households and people in the United States use cryptocurrency and Bitcoin, then I think it becomes a stable part of the economy, and not just the U.S. economy, but I think the world economy.”

But where does he get his information from?

The reason behind Brian’s process is based on an analysis of the S-curve. For those that don’t know, this is a common graphical image that represents the acceleration and the overall process of adoption for new technologies such as blockchain or cryptocurrency. 

He further said:

“The amount of time it takes for a new technology to go from 0% adoption to 10% adoption is the same amount of time takes it to go from 10% adoption to 90% adoption.”

Interestingly, he highlighted that it took about one decade for the leading coin to go from 0 to 10% adoption. In hindsight, this makes a lot of sense as bitcoin is just over 11 years old at the time of writing and it was only in 2017 when it became mainstream after hitting $20,000.

 

For more news on this and other crypto updates, keep it with CryptoDaily

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Why bitcoin adoption will speed up over the next decade
Sourced From: cryptodaily.co.uk/2020/12/why-bitcoin-adoption-will-speed-up
Published Date: Mon, 28 Dec 2020 13:45:13 +0000

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