Christian Keroles is Managing Director of Bitcoin Magazine. In this interview, we discuss hyperbitcoinisation as a zero-sum game and how that could lead to $26 million bitcoin.
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Hyperbitcoinization is a scenario where Bitcoin has achieved mass adoption: it is widely used as a medium of exchange, it is a store of value held by individuals and businesses, and it has become a primary global reserve currency. Essentially, it is a ubiquitous and dominant form of global money.
Over the last few years, a series of unprecedented global events has helped accelerate the adoption of Bitcoin. The pandemic gave rise to unsustainable monetary and fiscal policies that made the economic case for adoption by major institutions and a nation-state.
Now, in the shadow of the Candian trucker protests, where fears regarding the curtailment of individual freedoms were realised, and a new conflict in Europe may signal a reordering of the global monetary system, the political case for wider adoption of Bitcoin has been made.
We now live in a time when rather than being viewed as a wild abstract theory, hyperbitcoinisation is being contemplated as being a plausible culmination of ongoing trends. But what does this mean? What will the transition to a Bitcoin standard look like?