Bitcoin’s crypto crown is starting to slip, with the overall market on track to expand by at least 5,000% in the next 10 years.

That’s the view of Nigel Green, founder and CEO of financial advisory organisation, deVere Group, speaking a week ahead of the 10th anniversary of Satoshi Nakamoto’s release of the Bitcoin whitepaper.

“Bitcoin is what kickstarted the crypto revolution and it has changed the way the world handles money, makes transactions, does business, and manages assets, amongst other things, forever. It all began with Bitcoin,” he says.

“However, whilst I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organisations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”

It is also set to be hit by the superior technology, features, and problem-solutions, offered by existing and yet-to-be-released cryptocurrencies. Today the market is worth more than $400 billion, meaning it could reach the $20 trillion mark, going on Green’s prediction.

“A growing number of major institutional and retail investors, as well as financial institutions and regulators, amongst others, understand that cryptocurrencies are the future of money. As such, the market will have grown beyond recognition when Bitcoin celebrates its 20th anniversary,” he concludes.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.