Cryptocurrency

Bitcoin

Billion

Cryptocurrency analyst <a href="https://www.investopedia.com/who-is-willy-woo-5235816" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Willy Woo</a> predicts that the cryptocurrency industry could hit its inaugural billion-user mark by the conclusion of 2025.
Woo conveyed his insights in an April 29 X post, stating, “On track for 1 BILLION crypto users by the end of 2025.
An extrapolation of many independent prior studies in this chart. Binance estimates that 65% of crypto users hold Bitcoin.”
The chart presented by Woo marks a significant advancement, offering a comprehensive model aimed at delineating existing crypto asset users and forecasting the initial billion adopters.
Daniel Batten, an investor and author of the Bitcoin ESG Forecast, lauded the chart’s significance, remarking in an X reply to Woo, “Incredible chart.
The first view we’ve had of when we’ll cross the 1B threshold, with a full backtrace.”
The criteria for defining crypto users in the chart are unique entities that have completed Know Your Customer (KYC) verification and have previously engaged in blockchain transactions.
Attaining the milestone of the first billion crypto users has long been regarded as a pivotal moment for mainstream adoption.
READ MORE: <a href="https://www.cryptointelligence.co.uk/whale-transfers-signal-potential-upswing-for-bitcoin-and-ether-as-1-3-billion-enters-coinbase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whale Transfers Signal Potential Upswing for Bitcoin and Ether as $1.3 Billion Enters Coinbase</a>
Mainstream adopters have the potential to inject fresh capital into the ecosystem, a factor crucial for the appreciation of digital assets.
The trajectory towards 1 billion crypto users is underscored by substantial growth in ownership.
According to a January 2024 report by Crypto.com, the number of cryptocurrency owners surged by 34% to 580 million in 2023.
Bitcoin holders, constituting 51% of global crypto holders, swelled by 33%, from 222 million in January to 296 million by December 2023.
The report attributes this growth primarily to developments surrounding Bitcoin exchange-traded funds (ETFs).
Despite these strides, achieving the coveted billion-user mark by 2025 appears challenging, given the need for a 72% increase from the current 580 million users, based on 2023’s growth trajectory.
A joint 2022 report by Boston Consulting Group, Bitget, and Foresight Ventures forecasts reaching the billion-user milestone by 2030.
Drawing parallels with the internet’s adoption curve, the report suggests that sustained crypto adoption could emulate a similar trajectory.
Currently, crypto adoption remains relatively low, with ample room for expansion, as only 0.3% of individual wealth is invested in crypto compared to 25% in global equities, as estimated by BCG.
To submit a <a href="https://www.cryptointelligence.co.uk/category/press-releases/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto press release (PR)</a>, send an email to <a href="mailto:sales@cryptointelligence.co.uk" rel="noopener noreferrer nofollow">sales@cryptointelligence.co.uk</a>.

Crypto Analyst Forecasts First Billion Users by 2025, Chart Reveals Path to Mainstream Adoption

Crypto Intelligence

Other articles published on May 5, 2024

FLOKI Coin (FLOKI): Bull Rally Predicted as Key Indicators Show Positive Momentum

Stratos (STOS) Scores 300x Return with Successful Investment in Dogwifhat (DWH) Cryptocurrency

Ex-Cred Executives Face Legal Action for Wire Fraud: Impact on Crypto Market and Coin Value (CRED)

US Stock Market Performance Analysis: Key Highlights from Wednesday’s Trading, 5/1/2024

Ethereum (ETH) Sees Surge in Whale Investments; Bonk’s (BONK) Meme Trend Revives; Traders Eye New...

Abiotic Factor survival game records an excellent start on Steam

Join our free newsletter for daily crypto updates!