More than half of experts in a recent crypto survey said bitcoin will replace fiat currency by 2050

SourceBusiness Insider
CountryMiddle east

, 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 , 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,” Joseph Raczynski, a Thomson Reuters technologist and futurist, said in’s report. He expects by 2025 for bitcoin to overtake fiat currencies and, by then, it priced to be $150,000. El Salvador is breaking ground with its move in . Usage will begin in September following approval by lawmakers in June. 55% more...