-Bitcoin had a defining year in 2022 and is at a turning point.
-The Global South will continue to lead Bitcoin adoption due to its necessity for cheaper and more efficient solutions.
-The divide between Bitcoin and the rest will grow, due to Bitcoin being backed by human work and its utility.
The year 2022 was a defining one for Bitcoin, as we have reached a turning point in the cryptocurrency market. As the world continues to watch the evolution of Bitcoin, it is our responsibility to inform the public and governments of its real-life use cases and how it can benefit billions of people around the globe.
One of the key components to this is the Global South. Many countries in Africa, for example, have seen a surge in Bitcoin adoption due to its necessity for cheaper and more efficient solutions for money transfers, payments, and preserving wealth. This was evident after the Africa Bitcoin Conference in Ghana, where the Built With Bitcoin Foundation opened the Bitcoin Technology Center (BTC) in Kumasi, Ghana. This center is set to educate 400 people in its first year, and is proof of the continent’s determination to embrace Bitcoin’s potential. According to trade volume data on Paxful, there are predictions of further increases in both Ghana and Nigeria in the coming year.
The divide between Bitcoin and the rest is also set to grow in 2023. Bitcoin has proven its use and is backed by human work. Utility has been a key factor in the success of Bitcoin in 2022, and this is what will continue to separate it from other cryptocurrencies.
As we look forward to the new year, Bitcoin is poised to continue its growth and revolutionize the global economy. We are entering a new era of digital currencies, and it is our responsibility to educate and inform the public. With proper education, we will be able to onboard the next billion Bitcoiners and make a lasting impact on the global economy.