Will Bitcoin Dethrone the Dollar?
The billionaire Jack Dorsey, founder of Twitter and strong advocate of Bitcoin, predicts a bright future for the queen of cryptos. During a recent conference in Tuscany, Italy, he asserted that Bitcoin could replace the US dollar within 15 years, disrupting the global financial order.
Bitcoin, future king of currencies?
During a conference in Italy, Jack Dorsey outlined his vision for the future of Bitcoin. According to him, the cryptocurrency will evolve from a store of value to a currency used daily, without a central authority.
“It won’t be in 10 years, but maybe in 15 years“, Dorsey estimates. He emphasizes that adoption will take time, but gradually, people will understand the power of the Bitcoin system and its potential to complement, if not replace, the US dollar.
This prediction comes as the IMF warns of a possible decrease in the dollar’s share in the reserves of global central banks. Dorsey sees Bitcoin as an alternative to the dollar-yuan duopoly, offering users more control and freedom over their money.
“The US dollar and the Chinese yuan are two entities that control the value of your money, and you don’t choose them, whereas with Bitcoin, you have much more control and much more freedom to act around it.”
A global economic upheaval in sight
Dorsey’s optimism is set against a favorable backdrop. Bitcoin is experiencing a remarkable year in 2024, marked by the approval of spot ETFs and the establishment of new ATHs. Analysts at Standard Chartered Bank even predict a price of $100,000 by November.
The billionaire goes further, predicting Bitcoin at $1 million by 2030. “I think this figure will be reached and even exceeded“, he asserts with conviction.
These projections are based on the growing adoption of Bitcoin and its potential to revolutionize international payments. Dorsey emphasizes the importance of reducing global dependence on currencies controlled by central entities.
In short, Jack Dorsey’s bold bet on the future of Bitcoin reflects his unwavering faith in Satoshi Nakamoto’s invention. If his prediction comes true, it would mark a major paradigm shift in the global economy. Time will tell if he is right.
