Bitcoin’s price and adoption go hand in hand. without growing adoption, we shouldn’t expect sustained price increases. After all, demand (and thus price) is a reflection of real-world usage. But here’s the challenge: Bitcoin can’t compete with fiat for everyday transactions yet. So how do we bridge that gap?
When we see Bitcoin’s price surge, it begs the questio... Will it remain just a speculative asset? If so, that makes it a risky long-term hold, especially if adoption stalls. Worse, if whales and corporations dominate supply, they could manipulate the market, turning Bitcoin into a game for the wealthy rather than the many. That would defeat its purpose entirely.
So if someone doubts Bitcoin’s future over these concerns, how do you convince them it’s here to stay and grow?
Bitcoin is becoming increasingly popular as an investment asset, funds and companies are starting to add it to their portfolios, not as a manipulative asset, but as a long-term investment. I also think that over time, Bitcoin will become increasingly popular as a reserve for states that want to adopt a corresponding law on Bitcoin reserves.
And the idea of Bitcoin as a means of payment will most likely not take root, because the more expensive it becomes, the less attention it will attract from the population, who will consider it too expensive an asset.