According to a survey conducted by finance platform Finder, the majority of the panelists expect Bitcoin to surpass the global fiat financial system by 2040. However, the results varied by how early or how late do they expect it to happen but only 44% of people believe it will never happen.
More than 50% of the experts expect Bitcoin to replace fiat currency by the process of ‘hyperbitcoinisation’, out of which only 2% think that it will not be happening in this century. A majority of these 57% people, 20% to be precise expect Bitcoin to take the powerful position in the world economy by 2040.
Some other experts were even more optimistic in the survey as 15% thought that the process would be completed by 2035 while 10% expected the same to be completed by 2030 only. The remaining 5% believed that ‘hyperbitcoinisation' would occur as early as 2025, i.e, in the next four years.
When asked about whether the panelists thought it was the right time to sell Bitcoin, only 7% of them agreed with it. 55% believed it was the right time to buy Bitcoin while the remaining 38% thought investors should be holding their assets at the moment.
As far as price prediction is concerned, 61% of the experts agree that even though Bitcoin is going through a rough phase at the moment, it is criminally undervalued. BTC will end the year at $ 66,284 on average according to their prediction while in the coming years, the prices will boom even more.
As far as 2025 is concerned, the experts predicted the price to exceed $3,00,000. $318,417 was the average prediction by the end of 2025 in this survey. By December 2030, the experts predicted the price to surge up to $470,000.
Surprisingly, 66% of the respondents believed that migrating from Proof of Work to Proof of Stake model which is considered environmentally friendly, wouldn't have a large impact on the future of Bitcoin.
Who were the experts?
The panel included 42 experts, out of which 41 responded to the questions. Some of the prominent names in the panel were Alex Mashinsky (CEO of Celsius Network), Xavier Segura (General Partner, Morgan Creek Digital), Bobby Ong (Co-founder, CoinGecko, and Sagi Bakshi (CEO, Coinmama).
Click here to check the full list of panelists.