Bitcoin is expected to secure its position as the leading cryptocurrency by the close of 2023, as its superiority becomes evident in all aspects, according to Obi Nwosu, the CEO and co-founder of Fedi.
In an interview during the Bitcoin 2023 event in Miami, Nwosu highlighted that it is increasingly difficult to deny the unmatched speed, affordability, ease of use, decentralization, and security of the Bitcoin ecosystem. He predicts that this clarity will only become more apparent as the year progresses, stating, “It is going to be clear by the end of this year that it’s going to be tick, tick, tick for Bitcoin.”
Nwosu emphasized that Bitcoin’s efficiency and security make it the most suitable solution for various purposes, including functionality development, decentralized social media networks, and community empowerment. While he envisions a future with multiple cryptocurrencies coexisting, he likened it to the continued existence of different music formats like vinyl records and tapes.
Addressing the misconception of Bitcoin’s slow innovation, Nwosu clarified that developments are happening rapidly, with a focus on getting things right from the start to avoid frequent changes. He believes that the intangible nature of cryptocurrency makes it vulnerable to misinformation and excessive regulations, which can be countered by correcting falsehoods and establishing empowering systems.
According to Nwosu, countries lacking a belief in freedom are actively seeking stringent regulations on cryptocurrencies, making it crucial to advocate for accurate information and support initiatives that benefit the greater good.