Bitcoin will overtake fiat currencies by 2050

A survey by Finder of a sample of 42 fintech specialists reveals that most expect bitcoin to overtake fiat currencies by 2050. 

The sample is very limited, and perhaps biased, but the results that emerged from this survey are nevertheless interesting.

Taking the average of the participants’ forecasts, the panel overall predicts that the price of bitcoin could be around $ 66,000 at the end of 2021, and over $ 318,000 at the end of 2025 , while in the short term it should fall to around $ 25,000.

For 2030, however, the average is even $ 4.3 million, but excluding a single incredibly bullish forecast of $ 100 million, made by RealFevr’s Blockchain chief, Pedro Febrero, the average would be around 1.4 million.

For 55% of participants it would be time to buy BTC, while 38% say now is the time to hold, and 7% say it’s time to sell.

Hyperbitcoinization: when bitcoin will overtake fiat currencies

But the most curious data is certainly 54% of the respondents who hypothesize the advent of hyperbitcoinization by 2050, while 29% say it will happen even before 2035.

With “hyperbitcoinization” we mean in this case the overcoming of classic fiat currencies by BTC as the dominant form of global finance.

For example, according to Thomson Reuters technologist and futurist Joseph Raczynski, bitcoin will overtake fiat currencies by 2025, and will be worth $ 150,000.

He has declared:

“Some countries will use BTC as their primary currency. With fixed circulation, ease of transfer, it will be useful for them to switch to a “bankless” model typical of this new ecosystem ”. 

On the other hand, among the 44% who do not expect Bitcoin to become the dominant form of global finance, for example, is the associate professor of the University of Western, Australia Lee Smales, who said:

“Ultimately, I think Bitcoin (and many other crypto assets) will lose against central bank digital currencies [CBDC], many of which will be active by the end of the decade.” 

According to Arcane Crypto analyst Vetle Lunde, bitcoin could reach $ 120,000 by the end of the year, as we are already in the midst of institutionalizing BTC, and this trend could continue.

Meanwhile, Brighton Business School senior lecturer Paul Levy imagines a bitcoin price of $ 30,000 at the end of the year, and believes there will be a steady increase by 2030.

Instead, Coteries Corporation founder David Klinger thinks BTC will rise to $ 50,000 by the end of the year, but drop to $ 5,000 by 2030, largely due to environmental concerns. He also believes Bitcoin should move to Proof-of-Stake.

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