Will Bitcoin Evolve into Digital Cash by 2030? Insights from CryptoQuant CEO
CryptoQuant CEO Ki Young Ju has shared his belief that Bitcoin could evolve into a widely accepted form of digital cash by the end of the decade, bringing Satoshi Nakamoto's vision to life.
Ju recently posted on X (formerly Twitter) that Bitcoin’s 2028 halving event, which will reduce miners’ rewards by 50%, may mark a turning point for the cryptocurrency. He predicts that by then, Bitcoin’s role as a currency will be seriously considered as its volatility continues to stabilize and its ecosystem matures.
#Bitcoin will likely be used as a “currency” around 2030.
Bitcoin’s mining difficulty, which reflects the intensity of competition, has consistently hit all-time highs, increasing by 378% over the past three years.
While 50 BTC could be mined with a single PC in 2009, it has… pic.twitter.com/lY8pRreZCl
— Ki Young Ju (@ki_young_ju) October 24, 2024
Ju highlighted several key factors that he believes will support Bitcoin’s transformation from a speculative asset into a functional medium of exchange. Institutional investment is expected to play a big part, as large, established mining companies continue to reduce Bitcoin’s price volatility, making it a more stable and accessible option for everyday use. He argues that the increase in institutional mining is gradually raising entry barriers, which could help stabilize the currency, reducing the price swings that currently limit Bitcoin’s appeal as a payment method.
READ MORE: Will U.S. Elections Drive Bitcoin’s Surge or Prompt a Sell-Off?
Another factor Ju pointed to is the ongoing advancement in blockchain technology, which could support this transformation. Improvements to blockchain wallet accessibility, the widespread use of stablecoins, and developments in layer-2 scaling solutions are laying the groundwork for Bitcoin to potentially function as a digital cash system. He also mentioned Wrapped Bitcoin as a way to bridge Bitcoin to other networks, enabling more versatile transactions that bring it closer to Satoshi’s original goal.
Ki Young Ju envisions a future where Bitcoin’s utility as a payment method grows as it transitions from a volatile investment to a more predictable asset. By 2030, he believes Bitcoin could indeed fulfill its peer-to-peer electronic cash potential, transforming the way we think about money in the digital age. This path toward mainstream use, however, will hinge on continued advancements in blockchain infrastructure, further institutional backing, and global acceptance of Bitcoin as a reliable, everyday currency.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
