With the recent influx of major economic players into the blockchain space, how long will it take for corporate bitcoin (BTC) to become the norm? Brian Estes, founder of the investment company Off The Chain Capital, believes she is 10 years old.
“I believe that when 20% of US households and individuals in the United States in 2029, 2030 will use cryptocurrency and bitcoin, I believe it will be a stable part of the economy, not just the US economy but also the global economy.” Estes said in an interview with Cointelegraph.
Este’s logic is based on S-curve analysis, which is a popular graphical depiction of the speed and progress of new technologies. “The time it takes for a new technology to go from 0% to 10% is the same time it takes to go from 10% to 90%,” said Estes.
Owners of digital assets represent at least 15% of the U.S. population aged 18 and over, according to 2020 Cornerstone Advisors, according to Forbes author Ron Shifflin in July. Brian Brooks, acting inspector in the United States, also commented on the estimate of 15% in an interview with CNN in August.
According to Estes, only 10% of Americans owned cryptocurrencies in 2019, up from 0% before Bitcoin’s launch in early 2009. In April 2019, data from Blockchain Capital confirmed that bitcoin holders represent 11% of the US population.
“It took Bitcoin 10 years to go up from 0% to 10%,” he said. According to the S-curve analysis, BTC should reach 90% adoption in the current decade. According to Estes, 15% of Americans own cryptocurrencies by 2020: “We are on track to reach 90% by 2029.”
“There is no ‘if’ anymore,” Estes said of the adoption of cryptocurrencies, adding:
“Between 0 and 10% acceptance, this is” if. “When a new technology reaches 10%, it becomes” when. “It’s just as long, and I can cite many examples – from personal computers to the Internet, fax machines in the 1970s, washing machines in the 1940s, cars in the 1930s, railways in the nineteen. century, shipping in the seventeenth century – it is the same acceptance curve.
In addition to MicroStrategy, Jack Dorsey’s Square and billionaire Paul Tudor Jones have also made major investments in Bitcoin by 2020.