Analyst: Bitcoin’s Scale May Rival the Dollar
Analyst Willy Woo explained, based on Bitcoin’s historical adoption curve, when it develop to a scale that rivals the US dollar (USD). Woo stated that the financial now views Bitcoin as a rapidly emerging asset class. However, the current total market value of currency is only around $1.2 trillion, and analysts point out that the of an asset class is typically in the tens of trillions of dollars. Woo believes this expectation for BTC that the financial industry believes three things: BTC will grow at least tenfold from nowbreaking through the $10 trillion market cap barrier), rivaling USD in scale, and a reserve asset. Referring to the “adoption” curve of cryptocurrencies, Woo that Bitcoin’s user base currently represents about 4.7% of the world’s population according to his model. If it continues on an S-curve like with the internet BTC may still be in its early stages
