Analysts concluded that the global adoption of the first cryptocurrency is faster than the adoption of any other innovations in history. The price of the asset will follow the rise in popularity of BTC
10% of the population will use bitcoin by 2030, Blockware Solutions analysts are sure. The pace of growth in the popularity of cryptocurrencies is faster than the development of past innovations such as cars and electricity, according to a report from a mining company.
Bitcoin also benefits from the network effect: the growth in adoption is greatly accelerated by the Internet. According to the report, the value of bitcoin will follow its global spread.
The researchers looked at timelines of Bitcoin adoption (since 2009) and technologies from the past. These included cars, radios, electricity, smartphones, cell phones, the internet and social media.
“All innovative technologies follow a similar S-curve, but new technologies are being introduced much faster than the market expects,” the report says. The researchers said bitcoin adoption will be reached faster, also due to direct monetary stimulus and the macroeconomic environment.
According to a Deloitte report , 75% of US retailers are preparing to start accepting payments in cryptocurrencies or stablecoins in the next two years. And in the Australian city of Gold Coast, they offered to accept cryptocurrency as payment for municipal taxes.