Crypto Market Overview – Jul 20th, 2021
Expert forecast: BTC will be ready to replace fiat currencies until 2040
A group of crypto analysts representing the Finder.com financial platform predict the onset of the so-called global hyperbitcoinization (replacement of fiat money with Bitcoin) within the next 20 years. Cointelegraph reports.
A fresh poll of 42 crypto experts as a whole indicates their optimistic attitude towards the main digital coin despite its current position, frequent corrections and a predominantly bearish market.
At the same time, half of the respondents said that they expect to witness hyperbitcoinitization with the dominance of BTC against the backdrop of the collapse of all government money. By the way, a third of them predict that this will happen before 2035.
However, 44% of experts believe that Bitcoin can never become the base of the global financial ecosystem. Their opinion is closely related to the heated debate about the environmental friendliness of mining crypto-gold and altcoins using the Proof-of-Work protocol, which requires significant energy costs for mining.
Never the less, Dan Held, head of the development department of Kraken cryptocurrency exchange, said that Bitcoin has a good chance of becoming a reserve world currency, but, again — not earlier than 10 years from now.
Mike Tyson's poll adds fuel to the controversy between Ethereum supporters and Bitcoin evangelists
Iron Mike's Saturday tweet, in which the boxer asked more than 5 million of his followers about their preferences between ETH and BTC, created a powerful resonance both among crypto experts and people far from the cryptoindustry. News.bitcoin reported.
By the way, Tyson is not a newcomer to the crypto world and has successfully collaborated with NFT agency 1ofone to create his own collection of media tokens with images and videos of highlights of his own career.
The tweet from the heavyweight champion was reacted by rapper Busta Rhymes and Microstrategy director Michael Sailor. And if the musician just showed a serious interest in the issue of crypto assets, then Sailor said that after much thought he chose Bitcoin and invested $ 2.9 billion in it.
Of course, it is impossible to give any definite answer to such a tweet, so hundreds of adherents of gold and silver cryptocurrencies have spoken in the comments below. Apparently, the main idea of the message was not getting any specific statistics, but rather hype. And it worked.
-1: Ethereum Co-Founder Announces Leaving Crypto Community
One of the co-founders of the ETH network, Anthony Di Iorio, announced that he is leaving the crypto industry for reasons of his own safety. This is reported by Cryptocoin.
He said that he also wants to do charity work and invest in Project Arrow — a startup that is developing a zero-emission vehicle.
Di Iorio also added that he is not going to completely exclude the crypto from his investment portfolio:
“I want to diversify to not being a crypto guy, but being a guy tackling complex problems. I will incorporate crypto when needed, but a lot of times, it’s not.”
In addition, the businessman is going to sell his startup Decentral Inc., within the framework of which the highly successful Jaxx crypto wallet was developed. At the moment, the number of users of this product has exceeded 1 million.