CryptoQuant CEO predicts Bitcoin will be used as a ‘currency’ by 2030

Ki Young Ju, the founder and CEO of CryptoQuant, has suggested that the rising difficulty in Bitcoin mining could be an indicator of the cryptocurrency’s potential to evolve into a stable digital currency.

According to CryptoQuant’s live chart data, Bitcoin’s mining difficulty has been steadily increasing over the past three years. Specifically, Ki Young Ju pointed out that Bitcoin’s mining difficulty has surged by 378%, signaling greater competition in the mining space.

This increase in mining difficulty is largely attributed to the growing presence of large mining firms, often backed by institutional investors, which now dominate the industry. As a result, smaller, individual miners are finding it harder to compete in the current landscape.

Despite the challenges this presents for individual miners, Ju views the trend positively for Bitcoin’s long-term development. He explained that as institutional involvement increases, the barriers to entry for new miners rise, which could help reduce Bitcoin’s volatility. According to Ju, this trend could make Bitcoin a more attractive low-volatility currency by the time of the 2028 halving, further solidifying its potential to evolve into a digital currency for widespread use.

In essence, Ju believes that the growing institutional participation in Bitcoin mining could contribute to a more stable and reliable Bitcoin, paving the way for its adoption as a global digital currency.

On the same day, TeraWulf, a prominent crypto mining firm, revealed plans to raise $350 million by offering convertible senior notes due in 2030 to qualified institutional buyers. The company also stated that the offering could potentially increase by an additional $75 million if initial purchasers choose to exercise their option within a 13-day window after the issuance.

At the same time, three of the largest Bitcoin mining companies in the U.S.—Riot Platforms, Marathon Digital, and CleanSpark—announced their support for a new political action committee (PAC) aimed at backing pro-crypto candidates in critical swing states. The PAC plans to launch a $2 million digital advertising campaign targeting voters in Pennsylvania and Texas.

In a related discussion, Ki Young Ju, CEO of CryptoQuant, explained that as more crypto regulations are enacted, leading fintech companies will likely drive the mass adoption of stablecoins within the next three years. Ju believes that as familiarity with blockchain wallets and stablecoins grows, Bitcoin will gain increased recognition, moving closer to its role as a mainstream currency.

Ju further posited that, by the next Bitcoin halving event in April 2028, Bitcoin will likely be seriously considered as a currency rather than just an investment asset. He referred to Satoshi Nakamoto’s original vision for Bitcoin to function as “P2P Electronic Cash”, rather than as digital gold, and speculated that this vision could be realized by 2030, driven by the maturation of Bitcoin’s ecosystem and a reduction in its volatility.

Despite Ju’s optimism, European Central Bank economists Ulrich Bindseil and Jürgen Schaaf published a report on February 25, arguing that Bitcoin has failed to serve both as a global decentralized digital currency and as a reliable financial asset with continuous value appreciation. They criticized Bitcoin for its slow, costly, and inconvenient transactions, which they believe hinder its adoption as a true currency.