Bitcoin's influence and dominance of the cryptocurrency sector will "drastically reduce" in its second decade, with the crypto market likely to expand by "at least" 5000% in the next 10 years.
These are the bold forecasts from Nigel Green, founder and CEO of deVere Group, one of the world's largest independent financial advisory organisations, which launched deVere Crypto, the pioneering cryptocurrency app earlier this year.
His comments come ahead of 31 st October celebrations to mark the 10th anniversary of Satoshi Nakamoto's release of the Bitcoin whitepaper.
Mr Green states: "Next week Bitcoin, the original and still largest cryptocurrency by market capitalisation, celebrates its 10th anniversary.
"Bitcoin is what kickstarted the crypto revolution and it has changed the way the world handles money, makes transactions, does business, and manages assets, amongst other things, forever. It all began with Bitcoin."
He continues: "However, whilst I don't wish to rain on anyone's parade, I believe that Bitcoin's influence and dominance of the cryptocurrency sector will drastically reduce in its second decade.
"This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched--by organisations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market...