Bitcoin may become a currency by 2030.

Bitcoin (BTC) may finally realize its potential as a global currency by 2030, according to a recent report by CryptoQuant CEO Ki Yang Ju. Key's analysis highlights the rapid change in the Bitcoin ecosystem, particularly in terms of mining and institutional participation.

Satoshi Nakamoto, the mysterious creator of Bitcoin, once envisioned it as a decentralized, peer-to-peer (P2P) electronic money system.

The founder of CryptoQuant thinks of Bitcoin as the currency of the future

In a post on X (formerly Twitter), Kee hinted at a future where bitcoin could be widely used as a low-volatility currency, not just as a speculative investment asset. The vision is based on how Bitcoin mining has changed significantly since its inception in 2009.

Back then, single miners could easily mine 50 BTC on a single personal computer. Today the playing field is completely different.

Bitcoin's mining difficulty, which measures the complexity of mining new blocks, has risen a staggering 378 percent over the past three years. This reflects the competition in the industry, where growth has reached a point where it is impossible for individual miners to participate profitably.

Instead, large mining companies backed by institutional investors dominate the industry. This transition to institutional control has many consequences for the future of Bitcoin. As institutional investors take over, the barriers to entry to mining will rise, and the Bitcoin ecosystem will become more stable.

Read more: How to buy Bitcoin (BTC) and everything you need to know

Against this background, Ki Young Joo suggests that stability may reduce Bitcoin's notorious price volatility. Rather, it makes it less attractive to day traders but more attractive as a functional currency.

The CEO of CryptoQuant points to a key event – Bitcoin halving. This event happens every four years When the reward for mining Bitcoin transactions is reduced by half. After the 2024 Bitcoin halving, the next one is expected to take place around April 2028.

Historically, significant price increases have occurred after the event has halved. However, Ki Yang Ju predicts that the 2028 halving will mark a new chapter in Bitcoin's evolution. As Bitcoin's volatility continues to decrease over time, the discussion around its use as a “currency” may well begin during this period.

Institutional Bitcoin adoption to rise in the next half

Ki Young Joo He believes institutional adoption will reach a critical point by 2028, paving the way for Bitcoin to become widely accepted for everyday transactions. The increasing presence of major fintech companies may play a role in Bitcoin's conversion to currency. For example, Stripe's recent foray into the stablecoin infrastructure space could attract more e-commerce and international markets.

As regulatory transparency emerges, stablecoins may see mass adoption. This can familiarize many people with blockchain wallets and other cryptocurrency-related technologies.

Furthermore, volatility has been a major obstacle to Bitcoin's use as a currency. Businesses and consumers are reluctant to use Bitcoin for transactions if the price fluctuates wildly from day to day. However, Ki Young Joo argues that this dynamic is gradually diminishing as the ecosystem matures.

“As volatility declines, Bitcoin's role as a currency becomes increasingly inevitable,” Ju added.

This reduction can be caused by protocol, layer 2 (L2) networks, or bulk bitcoin (WBTC) developments. However, Ki Yang Ju says that for Bitcoin L2s to be competitive, they need institutional support. As these improvements continue, Bitcoin's potential to serve as a stable currency is growing.

This aligns with the vision of financiers such as billionaire investor Paul Tudor Jones, who sees Bitcoin as a hedge against inflation and economic instability. Jones believes Bitcoin's limited supply, especially in a world fraught with debt and rising inflation, makes it an attractive store of value.

Similarly, MicroStrategy founder Michael Saylor believes Bitcoin's unique properties make it a superior store of value over the long term. This explains the business intelligence firm's progressive BTC buying pace. The company has been stocking Bitcoin since 2020 and is still holding it.

This growing institutional confidence could further stabilize Bitcoin's value, enhancing its appeal as a currency by the end of the decade.

“We buy bitcoins to hold for 100 years. That $66,000 to $16,000 disaster shook the tourists. “When it was $16,000, we were all ready to drive it to zero,” Salor said recently.

For Ki Yang Ju, this change represents a return to Bitcoin's original purpose. While many see Bitcoin as “digital gold,” Satoshi Nakamoto's true intent was for it to function as a peer-to-peer electronic money system.

Read more: Satoshi Nakamoto – Who is the founder of Bitcoin?

As the ecosystem matures and volatility diminishes, the perception that Bitcoin cannot be a currency is no longer there. The founder of CryptoQuant believes that the world will effectively realize Satoshi's long-term dream by 2030 when Bitcoin serves as a functional and low-volatility currency.