Analyst Willy Woo pointed out that, according to the development of the internet’s S-curve, BTC is still in its early stages and is expected to be on par with the US dollar by 2030. This article is sourced from an article by Bitcoinist, compiled, translated, and written by Blockchain Knight.
In a recent article, an analyst explained when BTC could grow enough to be comparable to the US dollar (USD) using a historical adoption curve. In his latest article, analyst Willy Woo discussed the financial sector’s recent expectations for the original crypto asset. He mentioned that asset classes are typically valued in the “tens of trillions.”
Woo believes that the expectations surrounding BTC imply that the financial sector believes three things: BTC will grow at least ten times from now (breaking the $10 trillion market cap barrier), be comparable to the US dollar in size, and become a reserve asset.
But when can these expectations be realized? To make an estimate, the analyst referenced the “adoption” curve of crypto assets. Woo shared a chart comparing BTC’s adoption rate with that of the internet.
The values on the adoption curve here are related to the percentage of the global population currently using that asset. Woo aggregated all known research on BTC and crypto asset adoption to determine the curve.
From the chart, it can be seen that the number of BTC users is roughly around 4.7% of the current world population.
BTC may still be in its early stages
If following the development of the internet’s S-curve, BTC may still be in its early stages. If so, the number of users of this asset will accelerate from here.
Now, how much adoption rate do crypto assets need to be on par with the US dollar? Woo believes that this will happen when the curve enters the 25% to 40% range, which could be around 2030.
The development of BTC’s adoption curve in the coming years, and whether it will follow a similar pattern as seen on the internet, remains to be seen.