Adamant Capital founding partner Tuur Demeester spoke about the various phases of Bitcoin in a new interview with Stephan Livera.
In the interview, Demeester said that for him, Bitcoin is maturing gradually, adding that this is not possible in one day, but in “phases.” Using money as an example, he said that it evolved over time and did not simply appear.
After that, he said that the initial phase of Bitcoin was its discovery by the public. During this period, the project was discovered by developers and hackers. The timeline of this phase was 2008-2013 with extremely high volatility. Furthermore, he added that the discovery stage changed in 2013 after the price increase. He continued to say:
“Then I think it changed in 2013 with the price increase and the involvement of some VCS and some innovations that were really trying to increase the appeal of Bitcoin to the general public. We saw the first hardware wallets appear in 2013, also the first ASIC mining networks and some improvements in custodianship.”
The next phase was the so-called Mt. Gox phase, which was previously the largest bitcoin exchange market in the world, but still had a lot of competition, with the exchange's market share also declining.
According to Demeester, the current phase is the infrastructure phase where Bitcoin financing is taking place with the Bitcoin derivatives market and advanced ways of storing Bitcoin are being created.
He went on to say that we will remain at this stage until 2020, at least.
“The beginning of what is called the growth phase is where we will see bitcoin start to become large hedge funds and a really mature custody and insurance system. I think we could say that 2021 is really the year where we could move beyond that tipping point and get mainstream adoption of Bitcoin.”.
