Crypto experts believe that Bitcoin will replace fiat currency in 20 years

Bitcoin (Bitcoin) The current price collapse has failed to curb the optimism of some experts about the world’s largest cryptocurrency.

in a New survey Through, a personal financial comparison platform, half of the respondents believe that by 2040, Bitcoin will surpass fiat currency or currency issued by the central bank.

Although the sampling range can be said to be says the report is based on a panel of 42 cryptocurrency experts-it shows that the price of Bitcoin has changed from All time in April High has not affected the long-term view of crypto professionals.

According to the survey, 50% of respondents hope to see Bitcoin surpass global finance in the next 20 years, also known as super Bitcoinization. One-third of participants believe that the event will occur before 2035, and 44% predict that Bitcoin will never become the main form of global finance.

El Salvador transfer Recognize Bitcoin as legal tender Most interviewees stated that this is just the beginning of the adoption of BTC as a major currency in developing countries. 33% of crypto experts predict that raw cryptocurrency will become the most common form of currency in developing countries in the next 10 years. Another 21% think we will see adoption, but it will take 10 years or more.

One thing the panel members agreed on was the environmental issues surrounding Bitcoin mining.Up to 93% expected The green energy debate will Continuing to damage Bitcoin, 31% believe that energy consumption will significantly affect prices.

related: “Billions of users adopt Bitcoin? Maybe 10 years from now,” Dan Helder said

However, more than half of the experts believe that despite the potential price impact, moving to an environmentally friendly proof-of-stake model is not the answer, because 66% of the respondents described the proof-of-work model as a “necessary evil”. “

In an interview, Kraken’s head of growth Dan Held told Cointelegraph Bitcoin is likely to become the world’s reserve currency, but it will take at least 10 years. He said that in developing countries, Bitcoin is mainly used to avoid censorship-while in the Western world, Bitcoin is attractive as a hedge against central bank money printing.