Analyst: Bitcoin may rival the dollar in size

Analyst Willy Woo has explained when Bitcoin could develop to a level comparable to the US dollar (USD) based on the cryptocurrency's historical adoption curve. Woo stated that the financial industry now considers Bitcoin to be a rapidly rising asset class. However, the current total market value of the currency is only around $1.2 trillion, and analysts point out that the value of asset classes is typically in the tens of trillions of dollars. Woo believes that this expectation for BTC means that the financial industry believes three things: BTC will grow at least tenfold from now on (breaking through the $10 trillion market value threshold), be comparable in size to the US dollar, and become a reserve asset.

Woo referred to the adoption curve of cryptocurrencies, and from the chart, it can be seen that the current number of Bitcoin users is equivalent to about 4.7% of the world's population, according to the analyst's model estimate. If the S-curve of the internet continues, BTC may still be in the early stages. If this is indeed the case, the number of users of the token will accelerate from now on.

Woo believes that this will happen when the curve enters the 25% to 40% range, which may occur in the 2030s.