Tuur Demeester, the Founding Partner of Adamant Capital, spoke about the different phases of Bitcoin [BTC], in an interview with Stephan Livera.

Demeester stated that for him, Bitcoin was “slowly maturing” into a “full-fledged reserve asset, a full-fledged digital gold and a full-fledged money,” adding that this was not achievable in a day, but in phases. He cited money as an example, stating that it evolved and “never just appeared.”

He went on to state that the first phase of Bitcoin was its “discovery”, during which the project was discovered by coders and hackers. The timeframe for this phase was 2008-2013, with “extreme volatility” and “very poor tools.” He added that the discovery phase changed in 2013, following the price surge. He said,

“Then, I think that changed in 2013 with the price increasing and some VCS getting involved and some startups that were really trying to increase the appeal for Bitcoin to the to the general public. We saw the first hardware wallets appear in 2013, also the first ASIC mining rigs, […] some improvements in custody”

This was followed by a phase during which Mt. Gox, formerly the largest Bitcoin exchange in the world, witnessed “some very serious competition,” adding that the the market share of the exchange also saw a decline.

According to Demeester, the current phase is the infrastructure phase, during which the financialization of Bitcoin with the Bitcoin derivatives market takes place and advanced ways of storing Bitcoin and insurance come into being. He added that this phase would continue roughly till 2020, following which the infrastructure era would come to an end, ushering in the deployment phase.

He said,

“the start of what I call the deployment phase is really you know let’s call it the windows 1995 moment when we can really go mainstream and so that’s when I see bitcoins starting to be held by large hedge funds, sovereign wealth funds, where we have really a mature custody and insurance system […] I think we could see that in 2020-2021 is really [when] we would move past that inflection point and get mainstream adoption of Bitcoin”

The post Bitcoin [BTC] is slowly maturing into full-fledged digital gold and reserve asset, says Tuur Demeester appeared first on AMBCrypto.

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