Global crypto users could top a billion by the end of 2023, according to a new report by Crypto.com. Nation-state adoption of BTC are likely to increase by 2023.
Global Crypto Users could Reach One Billion by the end of 2023.
For wounded Bitcoin (BTC) bulls, there is a ray of hope. According to an optimistic report published by Crypto.com, global crypto users could reach one billion by the end of 2022.
The research concludes that “Nations can no longer afford to ignore the growing push towards crypto by the public,” citing a combination of poor countries following El Salvador’s orange-pilled example and a “friendlier approach” towards the crypto business.
In 2021, the global cryptocurrency population expanded by 178 percent, from 106 million in January to 295 million in December.
While Tesla and Mastercard joined the party with crypto payments and adoption in the first half of the year, BTC drove growth in the second half of the year, effectively exceeding Ether (ETH) adoption.
More Nations to Adopt BTC in 2023
August was a banner month for Bitcoin acceptance in the run-up to El Salvador’s legal tender law, as illustrated in the graph below:
Crypto.com believes that “if we assume a similar rate of increase in 2022, we are on track to reach 1 billion crypto users by the end of 2023,” based on the number of crypto users in 2022.
To get there, though, it will take more than just one Latin American country to accept Bitcoin, as well as some sensible crypto policy in the United States.
Fortunately, a recent Fidelity analysis supports national-level acceptance, stating that they “wouldn’t be astonished” if more countries embrace BTC before 2022. The jury is still out on the second part of Crypto.com’s prediction of a more welcoming attitude toward cryptocurrency.
Given the continued rejection of a U.S. Bitcoin ETF, and the latest U.S. crypto mining hearing, Crypto.com’s projections are a saving grace. The report is welcome hopeium for hodlers as price action grinds lower.
