Bitcoin is now about to become one of the dominating forces in the coming years. It is about to become one of the leading forces by 2050, as 54% of the panelists said in a survey. The survey was conducted by the finance site Finder. However, a full 44% said in the survey that it would never happen.
The “Bitcoin price prediction report” that has been published has canvassed 42 panelists from the finance, academia, and technology sectors. Some respondents of around 15% see this point labeled as “hyperbitcoinisation” in the study. It will occur in the early times of 2035.
The adoption of bitcoins in the developing world is working as the key driver. At least 3% of the respondents said that bitcoin would become the currency of choice in developing nations in the coming 10 years. A further 21% of persons said that the level of adoption is also more than 10 years away.
This momentum of bitcoin will continue to grow. Many countries and companies are adopting bitcoin as their means of legal payment, which is marking the hyperinflation of the currency. Such nations will strive to transform faster with the growing acceptance and use of bitcoin.
“The momentum will only pick up,” said Amber CEO Aleks Svetski, citing El Salvador‘s decision to embrace bitcoin as legal tender and its wide usage in Venezuela as a means of beating hyperinflation. “The beauty is also that these broken nations will transform faster than major nations as bitcoin undermines the nation-state model.”
The panel has predicted that the price of bitcoin would climb up to the level of $318417 by December of 2025. It is higher by 61% to that of a similar survey conducted in December of 2020.