Advances in technology could boost global adoption of bitcoin

Adam Beck, co-founder and CEO of Blockstream, believes that bitcoin volatility BTC $74,340.44 Bitcoin 7.92% Market capitalization $1.47 trillion VOL. 24 hours $6.68 billion is only a temporary phenomenon in the market, and with the development of technology and payment systems, this indicator will eventually decrease.

The analyst emphasized that bitcoin should not be perceived solely as «digital gold» for capital preservation.

According to him, with the growth of technological capabilities, cryptocurrency can become a more universal tool.

«People started talking about inflation after COVID, and our currencies look unstable. Although bitcoin is also unstable, it is temporary, as the network technology was adopted too quickly. For many, using bitcoin as a means of payment is difficult because of its volatility. But with the emergence of new technologies in the field of payments, it will soon disappear,» Beck says.

It is known that the market needs to develop and implement bitcoin-based trading solutions.

Beck suggests using cross-platform wallets to restore trust in exchanges, as they allow exchanging bitcoins for other digital assets without the participation of centralized platforms.

Against this backdrop, Blockstream is working on several solutions based on the second-level blockchain protocol Liquid Network, an add-on over the Bitcoin network that should facilitate the faster adoption of cryptocurrency in commercial institutions and banks.