The difficulty of mining Bitcoin has skyrocketed by 378% over the last three years, largely due to increased institutional investment in large-scale mining operations. This surge has created intense competition among miners and made it harder for individual miners to participate. However, Ki Young Ju, the CEO of CryptoQuant, views this trend as a potential positive for Bitcoin.
Ju predicts that the rising mining difficulty could be a sign that Bitcoin is on its way to becoming a more stable currency by 2030. He believes that as institutional investment grows, it may help reduce the volatility often associated with cryptocurrencies.
Summary Review: Ki Young Ju, CEO of CryptoQuant, believes that Bitcoin’s increasing mining difficulty, which has risen by 378% in three years, may lead to it becoming a stable currency by 2030. He suggests that growing institutional investment could help lower volatility in the cryptocurrency market.
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