Famous Investor: By 2040 the World Can Not Imagine Life Without Bitcoin

November 18, 2017

Famous Investor: By 2040 the World Can Not Imagine Life Without Bitcoin

Not so long ago Balaji Srinivasan (a well-known venture capital investor and the head of Earn.com, which supports bitcoin projects) shared his vision of the future of bitcoin.

"By 2040, humanity won’t be able to imagine its life without bitcoin. It will replace gold," he wrote in his Twitter account.

Thus, according to Srinivasan's prediction, everyone who was born after 2010 will use bitcoin as a single payment system in 30 years, judging by the current level of the bitcoin’s implementation by consumers, organizations and financial institutions.

This week, some of the largest brokerage companies, including Coinbase, CME Group, CBOE and Gemini, have worked out strategies and infrastructure for target investors in the medium and long term. For instance, Coinbase introduced the Custody platform, which will give depositors an opportinuty to invest at least $10 million safely. In turn, a strictly regulated platform for the financial derivatives market of CME Group, which was registered by the Commodity Futures Trading Commission (CFTC), announced their launch of bitcoin futures in December this year. As some experts predict, it is possible that, if things go this way, by mid-2018, most US financial institutions, as well as major markets like South Korea and Japan, will use bitcoin as an investment tool.

It is noteworthy, when hundreds of billions of dollars pass to the bitcoin market from the traditional financial industry, bitcoin will become a global cryptocurrency. A recent study by Facebook IQ revealed that about 45% of people in Generation Y do not trust banks, and if there is an alternative to bank credit cards and brokerage accounts, they will choose it.

In addition, Spencer Bogart, a Managing Director and the Head of Research for Blockchain Capital, said that 27% of the millenials would prefer to invest $1,000 in bitcoin than in the shares of enterprises. The part of men willing to invest in bitcoin is approximately 38%. Moreover, choosing between investing in bitcoin and other traditional financial assets, 30% would decide on bitcoin, and not government bonds, 22% would favour cryptocurrency instead of real estate, and 19% would prefer bitcoin to gold.

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