Hyperbitcoinisation less than three decades away, Finder expert panel predicts
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Hyperbitcoinisation – the moment Bitcoin overtakes fiat currency to become the dominant global currency – could occur by 2050, according to the majority of a panel of crypto experts polled by Finder.com.au.
A minority of the expert panel predicted hyperbitcoinisation could occur even sooner, with 29 per cent predicting it would happen by 2025.
Thomson Reuters technologist and futurist Joseph Raczynski thinks Bitcoin will overtake fiat currency by 2025 and be worth $150,000.
“Some countries will leverage BTC as their primary currency of choice. With fixed circulation, ease of transfer, it will serve them well to move to a ‘bankless’ model inherent in this ecosystem,” he said.
Coinmama chief executive Sagi Bakshi sees Bitcoin dominance occurring in the near future.
“All eyes on El Salvador now – some mocking, some crossing fingers,” Bakshi told Finder. “I am sure that their use case will be a great example of innovation and fast penetration.
“Financial services will be built on top of a public ledger, and the naysayers will be surprised.”
But 44 per cent of panelists don’t expect Bitcoin to ever become the dominant global currency.
“Ultimately I think Bitcoin (and many other cryptocurrency assets) will lose out to central bank digital currencies – many of which will be live by the end of the decade,” University of Western Australia associate professor Lee Smales told Finder. ‘
The panel’s average price prediction for Bitcoin at the end of 2025 was US$318,417, about 10 times what it was trading for yesterday.
Justin Chuh, a senior trader with Wave Financial, predicted that BTC would end the year at US$60,000 (a low estimate, compared to the rest of the group), but forecast BTC will end 2025 at US$210,000 and 2030 at US$400,000.
“Halving events and inflation along the way to 2025 and 2030 will likely trigger the larger upside moves,” Chuh says. “Prices are likely to be continuously driven by supply and demand, less availability for a wider group of users.”
Arcane Crypto analyst Vetle Lunde gave an above average end of year forecast at $120,000 and thinks BTC will be worth US$300,000 at the end of 2025 and US$500,000 in 2030.
“We’re standing in the midst of the institutionalization of bitcoin. More funds are joining the space, the first country has adopted bitcoin as legal tender, and we have several exchange-listed companies now owning Bitcoin. I believe this trend will continue onwards,” he said.
Brighton Business School senior lecturer Paul Levy was more tempered, predicting that Bitcoin would be worth US$30,000 by the end of the year, and increase to just US$70,000 by 2030.
“There will be a steady, but not dramatic increase. Much depends on the stability of the wider global economy and the development of alternative, more regulated cryptocurrencies,” he said.
The full Finder report is available here.