Bitcoin has a good chance of becoming the world’s reserve currency, although we are “at least 10 years away from that,” said Dan Held, Kraken’s head of growth, in an exclusive interview with Cointelegraph.

According to Held, the transition to “hyperbitcoinization” — a world where Bitcoin (BTC) is adopted by billions of users — starts with retail users, then institutional investors, and finally, governments getting involved.

The permissionless nature of Bitcoin is the fundamental property that is leading this transition. “It’s true, free money. It’s money that no one can control other than you,” he pointed out.

He said that in developing countries, Bitcoin is mainly valuable for avoiding censorship — while in the Western world, Bitcoin is attractive as a hedge against central banks’ money-printing.

Check out the full interview on Cointelegraph’s YouTube channel, and don’t forget to subscribe!