So I have been thinking about this for some time now, we saw a huge wave of new adopters last year, mainly private people buying through say Coinbase, Bitfinex and Bitstamp. We also saw an increase in demand from South Korea and Japan.

So the question is, what is the next phase in the adoption curve?

Some speculate that we'll see ETFs being approved and thus allow pension funds and major institutional money to flow into Bitcoin, others say we'll see governments buying into Bitcoin triggering a financial arms race.