Bitcoin continues to grow and attract investors. It seems that a successful future is inevitable for him. This opinion is supported by Alice Killeen, founder and managing partner of the venture capital firm Stillmark. She shared four predictions for the future of Bitcoin over the next five years.
Alice Killeen has been investing in bitcoin since 2013. She predicted what to expect for cryptocurrency in 5 years
Bitcoin is experiencing great popularity. At the beginning of 2021, the cryptocurrency cost about $ 29 thousand, but by April it had reached $ 63 thousand. According to Coinbase, Bitcoin is currently just over $ 50,000.
This rapid growth, and the accompanying investor interest, is good news for Alice Killeen, founder and managing partner of Stillmark, a venture capital firm that supports crypto startups.
Since 2013, Killeen has invested in bitcoin companies, and two and a half years ago she opened her own. She also sits on the board of directors of organizations such as Casa (deals with cryptocurrency storage) and Blockstream (develops Bitcoin infrastructure).
According to Killeen, five years ago, making payments in cryptocurrency was slow and inconvenient, but that has changed thanks to the Lightning Network. This is the second layer that covers the Bitcoin network and accelerates micropayments between users.
The technology should provide the ability to transfer money seamlessly and facilitate the future growth of bitcoin. But on the other hand, more and more states are seeking to start regulating the digital asset.
Nonetheless, Killeen is optimistic about the future of cryptocurrency and shared four predictions for the next five years.
People will stop buying bitcoin and start earning it
Nowadays, in order to get access to bitcoin, most people buy it. However, according to Killeen, in three or four years, many will earn it. Such income will be received, for example, by content creators.
More VCs Will Support Crypto Startups
New cryptocurrency companies are now often funded by crypto coins. However, an increasing number of traditional venture capital funds are entering this space, including Andreessen Horowitz. According to Killeen’s forecasts, “the inflow of venture capital into this area will grow.”
Killeen also believes that as traditional capital increases, the number of projects and startups offering technology that is not very reliable will decrease.
Bitcoin price stabilizes
Over the next five years, according to Killeen, as more people start using Bitcoin, price fluctuations will begin to diminish.
People will start using Bitcoin without even realizing it
Killeen believes Bitcoin will be adopted at the corporate level and become a more common payment method between companies. “A lot of people will start using bitcoin without even knowing it, because the transactions take place on the back end of the site, for example when paying on Grubhub,” she says.