• Bitcoin had a defining year in 2022 and is at a turning point.
• The Global South will continue to lead Bitcoin adoption, with increased trade volumes in Africa due to its necessity.
• The divide between Bitcoin and other assets will continue to grow in 2023.
This past year has been a defining moment in the history of Bitcoin. After a decade of growth and innovation, we are now at a turning point. Bitcoin has progressed to a point where its use cases have become abundantly clear, and the world is starting to take notice. Governments and financial institutions are now recognizing the potential that Bitcoin holds, and the cryptocurrency is becoming more widely accepted and adopted.
The Global South, in particular, is leading the way in Bitcoin adoption. Trade volumes in Africa are continuing to increase, despite the bear market. This is due to Bitcoin’s necessity on the continent, as it provides a cheaper and more efficient way for people to send money back home, make payments, and preserve their wealth. To further this cause, The Built With Bitcoin Foundation opened the Bitcoin Technology Center (BTC) in Kumasi, Ghana, which is set to educate 400 people in its first year.
As Bitcoin continues to grow in popularity and adoption, the divide between it and other assets will become increasingly evident. Bitcoin is backed by human work and has proven its utility and staying power, whereas other assets are backed by nothing more than speculation. As more people become aware of Bitcoin’s use cases and its potential to revolutionize the global economy, we will see an even greater divide in the upcoming year.
It is with great optimism that I look forward to 2023 and the future of Bitcoin. We have the opportunity to educate more people about the cryptocurrency, and to onboard the next billion Bitcoiners. With this, I am confident that Bitcoin will continue to prove its worth and revolutionize the way we think about finance.
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