Bitcoin Outlook 2021 – Thoughts of Niklas Nikolajsen (1/2)
All banks will have a Bitcoin offering, Bitcoin storage, Bitcoin savings account, things like that. The clients will demand it, maybe some retail banks won’t, but certainly behind the scenes, everybody will, even pension funds will start adopting Bitcoin. And then the holy grail, will hit in, probably at some point, maybe not this, but next time, maybe not in 2021 but sooner or later it will.
But within five or six or seven years, central banks will also hold small reserves in Bitcoin, and all of them always will within 10 year have a blockchain based version of their own peer currencies, the dollar I mean, the the Swiss franc, all of these will be on the blockchain. Absolutely guaranteed. But Bitcoin will be the ultimate settlement means between these power blocks in the world who do not also trust each other. I mean, the Chinese are not terribly happy about the the, Dollar, right, and you’re not going to go far with the remainder in the US and nobody wants the ruble. And I mean, but I think everybody will agree on that.
Bitcoin will be the settlement of choice between the power blocks of the world, it will be very large in trade financing, and it will play a part of everyone’s life. But without that they need to go and buy their coffee, with Bitcoin. I think that will happen as well over time. But I think much more that it will creep into people’s lives in a softer manner by their pension fund accepting Bitcoin their insurance companies starting to use Bitcoin as a means of settlement then the plastic ship they by being imported by companies who paid company in China by Bitcoin, this way, we’ll get into our lives, like all the other huge innovations that are all around us and are nice, but that we never think about plastic, then Sicilian, the combustion engine, we’re not thinking about these things, we just take them for granted. And it the same will be the case with Bitcoin and you might continue to pay in $1 or Swiss franc or euro.
But at the end of the day, the value of that currency will be determined by: how large are your Bitcoin reserves? We do not believe in a currency that has nothing backing it we want to see bank with something hard and physical, which Bitcoin is physical and hot very much so even more so than gold. And it will simply be a demand currencies that central banks that have no reserves except crappy bonds and crappy equities and yeah, they are currencies will will not stand the test of time, it will simply be a demand. So that’s that’s how it would happen. The next cycle will not be the final one.
Niklas Nikolajsen – Founder Bitcoin Suisse