Analyst: Number of Bitcoin Users will Reach 1 Billion in 2025
According to Willy Woo, the popular crypto analyst, Bitcoin’s user base is growing faster than the Internet’s. He predicted that in 4 years BTC community will reach one billion users.
Bitcoin exists and is a means of payment for over a decade. Today its network has grown into one of the largest digital assets by market cap, but still, several data refer Bitcoin to the early adoption phase. Nevertheless, BTC`s user base is expanding at almost the same speed as the Internet user base was growing after its launch...just a little faster!
What's the difference?
The difference is that it took Bitcoin much less time to expand to the current scale than the Internet – about 12 years.
Internet adoption vs Bitcoin adoption
The Internet, which today is an extensive global network connecting computers around the world, is one of the most valuable inventions of the last century. Although the Internet was invented back in the 1960s, most people started using the global network in the 21st century.
These days it is already impossible to imagine our life with no Internet connection. Nevertheless, not many of us remember that its adoption was way more slow and problematic than Bitcoin adoption, and it took about 30 years to gain about 120 million users.
Willy Woo has combined data from Glassnode - on-chain data analysis firm - and Cambridge Center for Alternative Finance and introduced the most discreet estimation of Bitcoin network users which today counts for 135 million.
Following these numbers, Woo concluded that if Bitcoin continues the current path, the most valuable cryptocurrency will see its first billion-user phase in 2025. Unlike Bitcoin, it took the Internet about 40 years after its launch - the milestone of 1 million users was crossed in 2005.
According to materials provided by Woo, Bitcoin can do so in less than 20 years.
Still Early
Despite the fact that Bitcoin prices and network activity is multiplying since its creation, the main thing about the asset is that “we are still early.” Although the BTC market capitalization is over $600 billion but still is behind the most valuable global companies and even gold, or institutional-grade real estate.
The co-founder of the cryptocurrency exchange Gemini, Tyler Winklevoss, last year expressed his view on the Bitcoin network, saying that we are at the “bottom of the first inning.”
But the "inning" can end sooner than anyone expects, as numbers of institutional investors are actively purchasing the most advanced digital currency.
There is a lot of noise around Elon Musk too, as he recently changed his Twitter bio to just one word - "Bitcoin" and is publicly regretting that he hadn’t purchased BTC years ago.
