Widespread adoption of the first cryptocurrency could happen faster than any innovative technology in the past, reaching 10% by 2030. This is noted in the Blockware Intelligence study.

Analysts have studied the historical adoption curves of cars, electricity, the internet and social media, as well as the rate of Bitcoin adoption since 2009.

“All disruptive technologies follow a similar exponential S-curve, […] however, new networking technologies continue to be introduced much faster than the market expects.

Based on the cumulative Net Institutional Growth metric and Bitcoin’s estimated 60% annual growth rate, analysts concluded that Bitcoin’s global adoption “will exceed 10% by 2030”. Blockware Intelligence expects the latter to be due to the current macroeconomic situation, the availability of the Internet, and the possibility of making quick profits.

Data: Blockware Intelligence.

“From the consumer’s perspective, past technologies had incentives for their adoption regarding convenience and efficiency. […]. However, the direct monetary value of being the first consumer of some of these technologies is difficult to measure. With Bitcoin, direct financially incentivized adoption creates a game theory situation where the best response for everyone is to accept the asset,” analysts explained.

However, Blockware emphasized that the model used at this stage is just a concept and not an investment advice.

Earlier, Bloomberg strategist Mike McGlone predicted mass adoption of cryptocurrencies in the US by 2022. According to him, this will be facilitated by the Fed’s curbing of emergency stimulus to the economy amid rising inflation and the labor market.

In February, Wells Fargo analysts compared the evolution of disruptive technologies to digital assets. They concluded that the latter had not yet passed the “inflection point”, after which the explosive mass adoption of innovations began.

Recall that the majority of institutional investors surveyed by Bitstamp said they expect widespread adoption of cryptocurrencies within the next decade.