How many people will be exposed to Bitcoin by 2025?

Abstract: Willy Woo said on the Unchained podcast that because of Bitcoin, we are all witnessing the birth of a new monetary system.

With bitcoin surging to new heights recently, many have their own opinions on how high the world's largest cryptocurrency might go. Bitcoin is more than just a digital currency. In fact, many believe that Bitcoin could reshape the world economy through a major overhaul of the existing monetary system.

Willy Woo is one of the proponents of this view. “We are all witnessing the birth of a new monetary system,” the analyst said recently on the Unchained podcast.

Blockchain-based digital ID market could grow over $3 billion by 2025: Golden Finance reports that blockchain-based digital IDs have seen significant growth over time. Various institutions, from the European Union to the Pacific islands, have voiced their support. ReportLinker mentions potential growth in its June 2021 report. Among them, the blockchain identity market will further grow at a CAGR of 71% to $3.58 billion by 2025. [2022/12/4 21:20:45]

He added, “As Bitcoin started absorbing these base currencies, fiat currencies were disrupted. I think what we are witnessing here is the birth of a new base currency. It’s not based on fiat anymore, it’s based on a It is the consensus of value that can be stored online and digitally cross borders in seconds."

Hunan: Promote 30,000 enterprises to "on-chain" by 2022: In order to vigorously develop the blockchain industry and seize development opportunities, Hunan Province recently issued the first provincial-level blockchain industry development action plan "Hunan Province Block Chain" The Three-Year Action Plan for the Development of the Chain Industry (2020-2022), proposes to strive to build more than 10 blockchain public service platforms by 2022, promote 30,000 enterprises to "on-chain", and build about 5 blockchain industries Park, the operating income of related industries reached 3 billion yuan. According to the "Action Plan", Hunan will actively expand the application of the blockchain industry. On the one hand, expand the application scenarios of blockchain, promote the application of blockchain technology in the fields of social governance, social assistance, intellectual property rights, supply chain, industrial inspection and certificate storage, and explore the innovation of digital economic model; on the other hand, carry out industry application Demonstration, combined with the advantages of Hunan Province's industrial base and development planning layout, organize and carry out enterprise-level, regional-level, and specific field-specific blockchain integration innovation integration application demonstrations in the fields of industry, finance, commerce, government affairs, and culture.

Hunan will carry out five major special actions, namely: industrial blockchain integration development action, promoting the innovative application of "industrial Internet + blockchain"; financial blockchain credit co-construction action, promoting blockchain-based financial information sharing and blockchain-based Blockchain industrial finance; circulation blockchain application innovation action, support freight logistics blockchain application, build a cross-border e-commerce blockchain service platform; public service blockchain co-governance and convenience action, promote government data open sharing Governance, encourage the demonstration application of blockchain for people's livelihood services; cultural blockchain value innovation action, promote and explore the innovative development of digital content-zce blockchain and digital copyright blockchain. (Economic Daily) [2020/7/13]

According to Woo, “Bitcoin is the new currency standard for the internet age. It will keep up with the demands of the world in this digital age.”

Dynamic | Forecast: The hardware wallet market will reach US$708 million by 2025: On January 17th, the market research company Mordor Intelligence recently lowered its growth forecast for the hardware wallet market, but the forecast data after the reduction showed that hardware wallets The market growth scale is still more than 4 times the current size, and the hardware wallet market size will reach 708 million US dollars by 2025. Mordor Intelligence forecasts that the hardware wallet market will be worth $161.9 million by 2019, and with a five-year compound annual growth rate (CAGR) of 24.93%, the market could reach as high as $708.37 million over the next five years. (Cryptonews) [2020/1/17]

Peter Brandt also supports his views, as seen in his tweet about the devaluation of the purchasing power of the dollar.

Woo went on to say that public acceptance of cryptocurrencies has grown since Bitcoin’s inception, as “only a little over 2% of the world’s population currently owns Bitcoin... the majority of people hold Bitcoin to gain access to Bitcoin."

This trend has been going on for 11 years, doubling every 12 months. According to his calculations, “That would get us to 4 percent, then 8 percent, and so on.” Furthermore, he argued, “Our current forecast is that 1 billion people will use Bitcoin as a currency in the next four years. asset class.” Thus, by 2025, 1/8 of the world’s population will be exposed to cryptocurrencies. "

The cryptocurrency's credentials have only been underscored by the fact that many supporters, including major institutions, have joined the race to embrace bitcoin as an "alternative asset" in recent years.

The interview also sheds some light on Bitcoin's "top question," namely, five years from now, ten years from now, what kind of volatility will we see?

Woo quickly answered the question. He replied, “…following a typical trend, 80% retracement. $300,000 plus 80% retracement brings us down to the $1 trillion range. I can see that the price of Bitcoin is now found at The space is very, very strong, about $1 trillion."

In fact, Woo is positive about the volatility trends of the past few bull markets.

He said, "I think actually we're going to start coming down to the lower volatility range, and I don't have a chart out there, but I think a lot of people will be surprised that volatility can go down so low. Beyond a certain size capital base, Volatility drops to zero as it becomes the new base currency.”

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