Adoption Curve Analysis
Analyst Willy Woo predicts that Bitcoin could reach a size comparable to the US dollar based on its adoption curve. Currently, Bitcoin’s market cap is around $1.2 trillion, but Woo believes it needs to grow tenfold to reach $10 trillion and become a reserve asset.
Comparison to Internet Adoption
Woo compares Bitcoin’s adoption to that of the internet. Using data from Glassnode and Cambridge, he estimates that Bitcoin’s user count is currently around 4.7% of the global population.
Timeline for Rivaling the USD
Based on the internet’s adoption curve, Woo predicts that Bitcoin could enter the 25% to 40% adoption range in the 2030s, which is when it could potentially rival the US dollar in size.
Current Price Action
Bitcoin’s price recently dipped below $59,000 but has since recovered to over $61,400. It remains uncertain whether this recovery will continue or if bearish momentum will return.
