From a fringe digital asset in recent years, Bitcoin has become a focus point for institutional investors; this change could set the path for its possible future as a widely used currency. Driven by increasing institutional engagement, improved mining competitiveness, and reducing volatility, CryptoQuant CEO Ki Young Ju forecasts that by 2030 Bitcoin might become a viable currency.
Over the past three years, the difficulty of mining Bitcoin—which gauges the processing capacity needed—has skyrocketed by 378%. Mostly driven by institutional-backed mining activities, this explosive rise presents significant obstacles for private miners. Ju claims that this trend of institutional management not only boosts stability but also could make Bitcoin less susceptible to significant price fluctuations, making it a more stable asset for daily transactions.
The upcoming Bitcoin halving event in 2028 could potentially stimulate further use of the currency. Halving events, which involve halving mining rewards, have historically led to significant price increases. But Ju says the upcoming halving might start a new era for Bitcoin as a currency instead of a speculative asset. He anticipates a growing acceptance of Bitcoin by then, with big fintech firms potentially playing a significant role in its transaction usage.
Ju also emphasizes the need for the evolution of Bitcoin Layer-2 (L2) solutions, including the Lightning Network, which are meant to enable quicker and more scalable Bitcoin transactions. Although other tokens like Wrapped Bitcoin (WBTC) compete with these solutions, Ju stresses that institutional support might help L2 solutions become successful tools for the wider usage of Bitcoin.
Bitcoin’s price volatility should drop as institutional investment grows, drawing more companies and customers ready to utilize it as a consistent currency. Ju says that lowering this volatility and boosting technical developments will be crucial if Bitcoin really becomes a medium of trade.
Ju sees Bitcoin as a “P2P Electronic Cash” system, therefore completing Satoshi Nakamoto’s original concept. By the end of the decade, Bitcoin might have a steady and major place in the financial system thanks to constant expansion, institutional interest, and technological maturation.
