Adam Back, the CEO of Blockstream believes BTC can reach $10 million by 2032 as long as layer-2 technology and wallet infrastructure is fast tracked and institutions “financialize” Bitcoin.
However, Back said that in order for that figure to be reached, improvements in Bitcoin layer-2 technologies and wallet infrastructure needs to be fast tracked to give time for these innovations to scale:
“i think things will get “interesting” over the next two halvings. and fast, we don't have much time to scale tech. we need somewhere for the next billion users to own their own UTXO, their own keys, with censorship-resistant cold storage. without weakening main-chain security.” Back said that it “probably means sidechains/drivechains as a tradeoff. more lightning optimization [...] we don't have much time as tech takes time to mature, wallets, interop, integration.”Back said he believes Bitcoin adoption hasn’t reached the bottom of the S-curve yet, as only 1-2% of the world population has tapped into Bitcoin.
“given volatility, i think #bitcoin can overshoot wildly and tap one of these $100-300 trillion market caps, correct and then regain a steadier adoption over time. i suspect people with average entry points, relative to then current price won't have much incentive to sell in size.” The CEO explained that part of that next wave of adoption may come from what he describes as “hyperbitcoinization spurts” — whereAdam Back believes the inflation of fiat currencies may force people to buy and hold bitcoin. Source:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bankrupt Celsius Aims to Raise $14.4 Million From Bitcoin Mining Rig Credits and Coupons – Bitcoin NewsDefunct cryptocurrency lender Celsius aims to secure more than $14 million from bitcoin mining rig credits and coupons backed by Bitmain.
Read more »
Bitcoin, Ethereum Technical Analysis: ETH Nears $1,500 Level to Start the Weekend – Market Updates Bitcoin NewsEthereum neared a breakout below $1,500 to start the weekend, pushing prices closer to a one-month low. Bitcoin remains below $22,000.
Read more »
IMF Report on El Salvador's Bitcoin Adoption: Risks Averted, but Transparency Needed – Bitcoin NewsIn a concluding mission statement, the IMF states that the risks have not materialized due to the limited use of bitcoin in El Salvador.
Read more »
Bitcoin Network Experiences Slight Dip in Difficulty After Record High – Mining Bitcoin NewsWith Bitcoin’s recent 0.49% decrease in difficulty, the network's difficulty will now be set at 39.16 trillion hashes for the next two weeks.
Read more »
Pantera Capital on Bitcoin: We're in Next Bull Market Cycle – Markets and Prices Bitcoin NewsCrypto-focused investment firm Pantera Capital says bitcoin has seen its lows. 'We're in the next bull market cycle,' the firm's founder said.
Read more »
Producer Adam Jordan Shifts Career To Nonprofit Lollipop Theater NetworkSeven-time Emmy-nominated TV producer and marketing executive Adam Jordan has moved to the nonprofit sector by taking a role as the new senior director of the Lollipop Theater Network. He will be …
Read more »