Bitcoin has a good chance of becoming the world reserve currency, although we are “at least ten years away from that”, said Kraken’s head of growth Dan Held in an exclusive interview with Cointelegraph.
According to Held, the transition to an “hyperbitcoinization” — a world where Bitcoin is adopted by billions users — starts with retail users, then institutional investors, and finally governments getting involved.
The permissionless nature of Bitcoin is the fundamental property that is leading to this transition. “It’s true, free money. It’s money that no one can control other than you.”, he points out.
He says that in developing countries, Bitcoin is mainly valuable for avoiding censorship — while in the western world, Bitcoin is attractive as a hedge against central banks’ money printing.
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