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Bitcoin, the world’s most traded cryptocurrency, will surpass money issued by central banks as the dominant form of finance worldwide in less than 30 years, according to a panel of fintech specialists.
54% of 42 crypto experts surveyed foresee so-called hyperbitcoinization — or the moment that bitcoin overtakes global finance — occurring by 2050, according to a report Friday from Finder.com, a personal finance comparison site. That event could take place even sooner, by 2035, according to 29% of the respondents.
The projection come during a time of growing interest in the cryptocurrency market among institutional and retail investors and as the majority of the central banks are conducting work on digital currencies, ranging from research to pilot programs.
“Some countries will leverage BTC as their primary currency of choice. With fixed circulation, ease of transfer, it will serve them well to move to a “bankless” model inherent in this ecosystem,”…