Analysts predicted global bitcoin adoption above 10% by 2030
According to Blockware Intelligence experts, the growth in popularity of BTC will be caused by the network effect and the development of the Internet
10.06.2022 - 08:45
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What’s new? Blockware Intelligence, an analytics company, believes that the adoption of bitcoin in various areas of life could happen faster than it did with disruptive technologies such as cars and electricity. Experts predict that the adoption rate of the first cryptocurrency will exceed 10% by 2030. They cited their findings in a Bitcoin User Adoption report.
What are the experts' findings based on? Bitcoin's adoption rate will be influenced by its network effect, where widespread adoption leads to an increase in value and encourages further use of the asset. In addition to the network effect, it will be influenced by direct monetary incentives, the macroeconomic environment and the fact that adoption growth will be accelerated by the development of the Internet.
Blockware's predictions are based on an examination of historical charts of the adoption of breakthrough technologies (cars, Internet, smartphones, social media, etc.) and the rate of bitcoin adoption growth since 2009.
Jurrien Timmer, director of global macroeconomics at Fidelity Investments, previously said that the price of bitcoin could rise to $63 000 by the end of 2022 and to $144 000 by 2025 “under the best-case scenario.” He came to this conclusion using the Stock-to-Flow (S2F) model popular among crypto investors and supplementing it with an S-curve that mimics the mobile phone adoption curve, which, according to the expert, can be used to determine bitcoin adoption rates and overall network growth.
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