TechFlow reports that Cobo co-founder and CEO Shen Yu stated at the 2024 Hong Kong Web3 Festival that entrepreneurs with Chinese backgrounds have brought forth significant innovation in the development of the Bitcoin ecosystem, and will continue to drive a large-scale explosion of Bitcoin applications in one or two cycles.
He also expressed hope that Bitcoin could accommodate more innovation, noting that the likelihood of another hard fork is low, but there may be one or two soft fork iterations—innovations within existing constraints while preserving the current architecture.
Shen Yu predicted that Bitcoin's price will reach $1.5 million by 2030, calling this forecast conservative. He foresees a massive surge in Bitcoin's application adoption over the next one to two cycles, accompanied by multiple-fold growth potential, with major financial institutions serving as core participants.
