Bitcoin will become the sixth largest reserve currency in 15 years

     In the early morning of the 4th Beijing time, according to CNBC, Bitcoin industry insiders expressed optimistic expectations for the future of this virtual currency, believing that it will be as widely used as the Swiss franc or Australian dollar.

British technology industry consulting firm Magister Advisors interviewed 30 leading Bitcoin companies around the world and found that they all agreed that Bitcoin will become the world's sixth largest reserve currency within 15 years.

Many observers believe that the real value of Bitcoin lies in the "blockchain" technology behind it, which makes all Bitcoin transactions public and transparent. According to a survey, the world's 100 largest financial institutions are expected to invest $1 billion in blockchain-related projects in the next two years.

Jeremy Millar, partner at Magister Advisors, said: "We have now reached a fork in the road between Bitcoin and blockchain. Bitcoin has proven itself as an accepted currency, and more importantly, blockchain will become a globally standardized distributed ledger for financial transactions."

In September, 13 of the world’s leading banks, including Bank of America, Citigroup, Deutsche Bank, Goldman Sachs and JPMorgan Chase, joined a blockchain project to explore the possibilities of distributed ledgers in the mainstream financial world.

In its report on Tuesday, Magister Advisors also mentioned the volatility of Bitcoin. The report said that the main use of Bitcoin in developed markets is currently speculation. According to the respondents of this survey, 90% of Bitcoin is used for speculation rather than commercial transactions.