3. Growth in Crypto Currency Users
There was a time when we weren’t sure if this “internet” thing was really going to take off.
Remember when we had telephone dial-up connections and you would hear that strange noise when the modem would be working?
Now, as of the end of 2021, there are nearly 5 Billion people in the world that use the internet.[1]
We can look for parallels between INTERNET adoption and BITCOIN adoption.
We will use the number of Crypto Currency users[2] (wallets) as a proxy for Bitcoin users. As more people become Crypto Currency users - owners of Crypto Currenciesin general, then we should see more Bitcoin users – Bitcoin owners.
If the growth in Crypto Currency ownership follows the growth path of internet use, then we might say Crypto Currency ownership is in the “year 2000” position of internet adoption…only a few billion more people will be joining the Crypto Currency ownership club over the next 10-20 years….
[1] Intl Telecommunication Union, https://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx
[2] Crypto.com, https://finance.yahoo.com/news/global-crypto-users-reach-1-101646507.html