Flush: bitcoin after 15 years will become the sixth largest reserve currency
4 am Beijing time, according to CNBC reports, bitcoin insiders of the virtual currency in the future to make optimistic expectations, and believe that it will be widely used as the Australian dollar or Swiss franc.
The British science and technology industry consultant MagisterAdvisors interviewed 30 of the world’s leading bitcoin companies found their consistent view is that bitcoin will become the world’s sixth largest reserve currency in 15 years.
Many observers believe that the true value of bitcoin is behind the “block chain” (blockchain) technology, it makes all bitcoin transactions transparent. Survey shows that 100 of the world’s large financial institutions in the next two years in the block chain related investment is expected to reach $1 billion.
MagisterAdvisors partner JeremyMillar said: “we have now reached a fork in the road and bitcoin blockchain, bitcoin has proved to be an accepted currency. But more important block chain, it will become a financial transaction distributed ledger global standard.”
In September this year, 13 of the world’s leading banks joined a block chain project, exploring distributed ledger in mainstream financial world of possibilities, including Bank of America, Citigroup, Deutsche Bank and Goldman Sachs and JP Morgan.
In a report Tuesday, MagisterAdvisors also mentioned the problem of bitcoin volatility. The report said, the main use of bitcoin in the developed market is current speculation. According to the survey respondents estimated that 90% bitcoin is used for speculation, rather than commercial transactions.