About 34 million American adults own cryptocurrency, which will only increase in the coming years. If you’re one of these people or are looking to join their ranks, you likely are wondering how good an investment Bitcoin is. Luckily, the value of this cryptocurrency is projected to grow a lot over the course of the decade. But what will Bitcoin be worth in 2030?
Read on to answer this question and better understand why Bitcoin is consistently increasing in value.
What Will Bitcoin Be Worth in 2030?
The current Bitcoin (BTC) value is slightly above $20,000 USD. This August 2022 figure means that you could sell any single Bitcoin for this price if you were to conduct a crypto-to-cash exchange.
The current value of Bitcoin is estimated to increase. In fact, experts predict that 1 BTC may be worth over $100,000 USD by the conclusion of 2022.
So, if you purchase $100 worth of Bitcoin today and hold onto it until January 2023, you may be able to sell it for approximately $500!
This may sound like a high figure considering that it currently is only 1/5 of that value, but the market is constantly shifting. In fact, just in June, it was only worth $18,000. Even despite these dips and plateaus, 1 BTC has previously been worth $68,000.
1 BTC is currently twice as valuable as it was in 2020. Thus, financial analysts believe that the volatility of Bitcoin in the short term is only a precursor to long-term growth.
The Market for Bitcoin
When determining how well Bitcoin is doing in the current economy, it is crucial to consider how large the market for this cryptocurrency is.
As of 2020, the most recent full year available from Globe News Wire’s statistics, the market for Bitcoin is worth around $753.36 million. Its popularity stems from various reasons, including security, accessibility, and investment opportunities.
Experts project that the Global Bitcoin market will grow by about 30.32% annually by 2030. This means that it will surpass $5481.36 million by this time.
Bitcoin is the most popular type of cryptocurrency in the world, but it’s far from the only one. In 2020- the same reporting period as the earlier statistic- the global crypto market size was about $826.6 million. This includes currencies like Ethereum, Litecoin, and more.
However, the growth of Bitcoin is significantly higher than that of other cryptocurrencies. While the 30.32% growth statistic makes Bitcoin a good investment, the crypto market as a whole is only projected to grow by 11.1% until 2028. This places Bitcoin well ahead of other cryptocurrency investment alternatives.
Is Bitcoin in Limited Supply?
There is a cap on the number of Bitcoins that can be mined: 21 million.
New Bitcoins are added to the blockchain supply approximately every 10 minutes. 10 minutes is also about the same time that it takes to create a new Bitcoin block within the blockchain. This means that the number of Bitcoins minted in each block halves every 210,000 blocks.
It takes about 4 years to create 210,000 blocks, putting a cap on the number of Bitcoin people can ever mint. Luckily, the database has something called rounding operators. These bit-shift operators round decimal points down when a new block is divided by half.
The lowest unit of Bitcoin measurement, a satoshi, equals about 0.00000001 Bitcoins. It can’t be halved since there is no unit smaller than it.
The Blockchain will likely never hit the limit of 21 million because it is impossible to divide this satoshi up. Rounding means that the cap will never be reached.
But what does this mean for crypto enthusiasts?
You may fear that 8 years from now, in 2030, Bitcoin’s lack of production will alter its value in ways that can’t be projected. However, this is far from true.
Though no new Bitcoins will be issued- which will affect those mining it- users can expect the same steady increase in their investment’s value even if the cap is hit. Transactions will be as popular as ever before as cryptocurrency circulates through the economy.
In fact, as society progresses towards secure and untraceable currency, the popularity of Bitcoin will continue to increase!
Michael Saylor Gives A Promising Prediction For The Future Of BTC!
What Factors Contribute to This Growth?
Several factors contribute to the growth of Bitcoin’s value and its overall market. Accessibility is one of the main ones.
Previously, people needed to sign onto Bitcoin exchanges that paired them with other online users. They could anonymously purchase Bitcoin from those looking to sell it for cash. This process was challenging for many people because it required technologies they did not know how to use and websites they did not trust.
Today, you can find a Bitcoin ATM in the same town as you. These kiosks are often in grocery stores, corner shops, and banks. All you need to do is scan your ID, scan your crypto wallet’s QR code, insert cash, and wait for the corresponding amount of Bitcoin to appear in your eWallet. We recommend our ByteWallet, a fully-loaded crypto wallet with exchange and banking options.
Ease of use is another reason that Bitcoin is growing in popularity. As major credit card companies like Visa make Bitcoin debit cards, the cryptocurrency becomes increasingly versatile. You can spend it at stores that accept credit cards from these common companies. ByteWallet users can enjoy these same conveniences and more with crypto-first banking services, including a full-blown bank account and routing number.
Bitcoin is also popular because it’s a secure alternative to fiat currency. When you use Bitcoin, you keep all of your personal and financial information off compromisable networks. This adds an extra layer of security to your transactions.
Buy Bitcoin Today
While many different investment opportunities can diversify your portfolio, Bitcoin is one of the best. The market is growing fast, and experts consistently predict long-term growth despite occasional setbacks. Now that you’ve answered the question, what will Bitcoin be worth in 2030?… It’s time to get started.
ByteFederal offers a nationwide network of over 1000 Bitcoin kiosks. This makes it easier than ever before to invest, trade, buy, and sell Bitcoin. Find a location near you to convert cash to crypto in mere minutes!
