Bitcoin is expected to become the dominant cryptocurrency by the end of 2023, with its superiority in every aspect becoming clear, according to Obi Nwosu, CEO and co-founder of Fedi. Speaking at the Bitcoin 2023 event in Miami, Nwosu said it is becoming increasingly difficult to deny that Bitcoin has the fastest, cheapest, easiest, most decentralized and secure ecosystem. He anticipates that this will become increasingly clear by the end of the year. Nwosu also emphasized that Bitcoin‘s slow innovation is a big misunderstanding and that developments are happening incredibly fast with a focus on creating solutions that are correct on the first try. While he believes there is space for other cryptocurrencies in addition to Bitcoin, he envisions a “multicoin future.”
Despite the intangible nature of cryptocurrency, Nwosu believes the key to fighting back against inappropriate or extreme regulation is to “correct” misinformation and create systems that empower the good guys. Countries lacking belief in freedom of speech or just freedom overall are actively looking at stringent regulation toward cryptocurrency. Nwosu sees cryptocurrency as essentially “an idea,” a combination of philosophical and technological aspects. He added that because of its nature, cryptocurrency cannot be combated using physical force such as guns or missiles but through misinformation.