The adoption of Bitcoin (BTC) could occur more rapidly than the adoption of past disruptive technologies such as automobiles and electric power, with global take-up likely to hit 10% by 2030 according to a new report.
In its Wednesday report, Blockware Intelligence said it arrived at this forecast by examining historical adoption curves for nine past disruptive technologies including automobiles, electric power, smartphones, the internet and social media, along with the growth rate of Bitcoin adoption since 2009:
“All disruptive technologies follow a similar exponential S-curve pattern, but […] newer network-based technologies continue to be adopted much faster than the market expects.”
Using the average and weighted average of historical technology adoption curves, as well as the growth rate of Bitcoin adoption, the report was then able to arrive at its prediction.
It said that based on a metric called Cumulative Sum of Net Entities Growth and Bitcoin’s predicted “CAGR of 60% we forecast that global Bitcoin adoption will break past 10% in the year 2030.”
Blockware Intelligence is the research arm of Blockware Solutions, a Bitcoin mining and blockchain infrastructure company, so you might expect it to be bullish on adoption.