Abstract: Willy Woo stated on the Unchained podcast that because of Bitcoin, we are all witnessing the birth of a new monetary system.
As Bitcoin has recently soared to new heights, many people have their own opinions on how high the world’s largest cryptocurrency might go. Bitcoin is not just a digital currency. In fact, many people believe that Bitcoin can reshape the world economy through major reforms to the existing monetary system.
Willy Woo is one of the supporters of this view. The analyst recently said on the Unchained podcast, “We are all witnessing the birth of a new monetary system.”
He added, “As Bitcoin began to absorb these base currencies, fiat currencies were destroyed. I think what we are witnessing here is the birth of a new base currency. It is no longer based on statutes, but based on a It is a consensus of value. This value can be stored online and digitally cross borders within a few seconds.”
According to Woo, “Bitcoin is the new currency standard in the Internet age. It will keep up with the world’s needs in this digital age.”
Peter Brandt also supports his view, as you can see on his Twitter about the depreciation of the dollar’s purchasing power.
Woo went on to say that since the birth of Bitcoin, the public’s acceptance of cryptocurrencies has been growing, as “Currently, the global population holding Bitcoin is only slightly more than 2%… Most people hold Bitcoin for contact Bitcoin.”
This trend has been going on for 11 years and will double every 12 months. According to his calculations, “This will allow us to reach 4%, then 8%, and so on.” In addition, he believes, “Our current prediction is that 1 billion people will use Bitcoin as a form of bitcoin in the next four years. Asset class.” Therefore, by 2025, one-eighth of the world’s population will be exposed to cryptocurrencies. “
In recent years, many supporters, including large institutions, have joined the race to use Bitcoin as an “alternative asset”, which merely highlights the credentials of this cryptocurrency.
This interview also gained some insights into Bitcoin’s “most concerned issues”, that is, five years from now, ten years from now, what kind of volatility will we see?
Woo answered this question quickly. He replied, “…follow a typical trend, 80% correction. 300,000 US dollars plus 80% correction will bring us down to the 1 trillion US dollars range. I can see that the price of Bitcoin is now found in This field is very, very strong, about $1 trillion.”
In fact, Woo is positive about the volatility of the past few rounds of bull markets.
He said, “I think we will actually start to fall to a lower range of volatility. I don’t have a ready-made chart, but I think many people will be surprised that volatility can drop to such a low level. Beyond a certain size of the capital base, Volatility dropped to zero because it became the new base currency.”
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.