Balaji Srinivasan, a prominent venture capital investor and the CEO at Earn.com, a Bitcoin-focused startup that has raised over a hundred million dollars in early-stage funding, believes by 2040, everyone under the age of 30 will “have never known a world without Bitcoin.”
By 2040, everyone under 30 will have never known a world without Bitcoin. It may as well be gold. That’s the long-term case for replacement. https://t.co/JAmPL4uNys
— Balaji S. Srinivasan (@balajis) November 13, 2017
By that, Srinivasan essentially means everyone born after the year 2010 would be using Bitcoin as a store of value or a currency by 2040, given the current rate of Bitcoin adoption by general consumers, businesses, investment firms and financial institutions.
Rapid adoption rate
This week, Coinbase, CME, CBOE and Gemini, some of the world’s largest Bitcoin brokerages and financial institutions, have rolled out strategies and infrastructure to target institutional investors in the mid to long-term.
With Coinbase’s Custody platform which allows institutional investors to invest a minimum value of $10 mln, and CME Group’s strictly regulated Bitcoin futures exchange approved by the US Commodities and Futures Trading Commission, by mid-2018, it is highly likely that most financial institutions in the US, as well as major markets such as South Korea and Japan, will have already adopted Bitcoin as a robust store of value and digital currency.
Millenials not happy
As hundreds of billions of dollars shift to the Bitcoin market from the traditional finance industry in the upcoming years, naturally, Bitcoin will evolve into the global digital currency, especially amongst millennials. A study conducted by Facebook IQ revealed that millennials feel disconnected from the banking industry, and do not trust financial institutions with their money, capital and investments…