In a world where Bitcoin is becoming increasingly influential, experts from various fields shared their predictions for the future of the world's largest cryptocurrency. Here are the seven scenarios they envision:
Cory Klippsten, CEO of BTC company Swan, predicts that by 2035, Bitcoin will be widely used to pay for everyday items such as coffee, drinks and donuts. Klippsten believes that most goods will have two price tags, one in fiat currency and one in BTC. However, he does not think Bitcoin will completely replace traditional currencies. “We will live in a multi-currency world, as we always have,” says Klippsten.
Des Dickerson, CEO of THNDR Games, sees a future where billions of players around the world are rewarded with BTC, thanks to the speed of BTC's Lightning Network. He believes that Bitcoin should naturally exist in games because it should be the native currency of the internet. However, he admits that this is still theoretical and “we won't see massive adoption until there is a viral game with Bitcoin in it.”
Isaiah Jackson, author of “Bitcoin and Black America,” sees the launch of BTC ETFs as a double-edged sword. According to the analyst, these free up a new pipeline of capital that could potentially drive Bitcoin's price higher, while also giving more power to traditional financial institutions. “If you have enough Bitcoin, you can buy off lobbyists and convince politicians to do things like, ‘We need to control BTC mining,’” Jackson warns.
In another prediction, Jackson believes that if governments manage to over-regulate Bitcoin, there will be a demand for “black market BTC”, that is, Bitcoin that is outside the control of governments.
Anthony Pompliano of Pomp Investments believes Bitcoin's ability to deliver fundamental value as a global, digital store of value will likely continue for decades. He even predicts a generational change in which Bitcoin will become “a reference point for many young investors.”
David Johnston, lead participant in the Morpheus project, sees potential for Bitcoin in the field of artificial intelligence (AI). “No one is giving AIs a bank account, but Bitcoin is perfect as a naturally digital tool for AI to transact,” says Johnston.
Wendy O expresses concerns about the uncertain future of Bitcoin regulation. Despite being encouraged by pro-Bitcoin policies in countries like El Salvador, there are fears that the government in the US could make it harder to participate in the Bitcoin ecosystem.
*This is not investment advice.