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Nigel Green, CEO of the DeVere Group, claims that a combination of superior technology and a new cryptocurrency, which has not yet been created, will put an end to the Bitcoin domain. Speaking exclusively for Express.co.uk, Mr. Green says peak cryptocurrency will still play a role in the future of global finance, but it will be more of a supporting actor than a leading role. He said: "Bitcoin is likely to remain the dominant cryptocurrency for some time, but I think its influence will diminish over the next 5-10 years." This is because with the increase in the mass adoption of cryptocurrency, it will launch more and more digital currencies from organizations in both the private and public sectors ".
This, he explains, will increase competition for bitcoins and seriously damage its market share.
He said: "Moreover, the bitcoin is likely to be affected by the superior technology, features and solutions of the problems offered by the cryptocurrencies existing and still to be released.
"There is a continuous shift from fiat money, and the pace of this is set to increase in the next 10 years and bitcoin will play an important, but reduced, role in this".
The current state of cryptocurrency markets as they stabilize ahead of what is widely expected to be another tumultuous period has left many analysts predicting a huge swing.
However, the widely respected financial guru anticipates something a little more conservative than the savage price action that many investors fear or hope.
He said: "I think it is unlikely that there will be big swings – like the one we saw this time last year – both up and down.
"It is, on the whole, and despite the current bearish sentiment, to become a more mature asset class."
He also thinks that recent market volatility should be viewed positively and as an opportunity for industry, rather than something that is having a negative effect on progress towards mass adoption.
While some have claimed that the unpredictable and unstable market conditions associated with the crypt have driven away prospective investors, Mr Green would suggest otherwise.
He believes that the stories about the bitcoin's wild fluctuations simply highlighted his potential.
He said: "I do not think that volatility is causing people to lose interest.
"On the contrary, I believe that interest is growing – we have clearly seen institutional and retail investors, financial institutions, governments, central banks and regulators.
"Market volatility can be used as important buying opportunities.
"It allows investors to top up their portfolios when prices are lower and / or exploit lower entry points, so that they can often significantly strengthen their long-term position."
Although not a solitary voice regarding the short or long-term future of bitcoin, Nigel Green is certainly in the minority with his predictions.
Which, of course, would make the exercise revisit its prophecies if and when the bitcoin reaches its twentieth anniversary even more interesting.
