According to Odaily, Adam Back, co-founder of Bitcoin infrastructure development company Blockstream, recently shared his insights on the potential acceleration of Bitcoin adoption. In a post on X, Back suggested that if Bitcoin transitions from a gradual to a sudden phase of adoption, the influx of new users could intensify the adoption effect. This shift might render the 'diminishing return' halving theory ineffective, propelling Bitcoin towards the upper end of the S-curve. Back referenced Hal Finney, the first recipient of Bitcoin, who in January 2009 estimated a $200 trillion addressable market for Bitcoin. Back believes that Bitcoin's S-curve could now be entering a steeper phase.
Back further speculated that the diminishing return trend might break upwards within the next two to five years. This potential shift could significantly impact the market dynamics, as increased adoption may lead to a more rapid ascent in Bitcoin's value and market reach. The implications of such a development could be profound, influencing both the cryptocurrency market and broader financial systems. Back's comments highlight the ongoing discussions and analyses within the cryptocurrency community regarding Bitcoin's future trajectory and its potential to disrupt traditional financial models.
