Bitcoin users are roughly the same as the internet was in 1997.
The graph taken from the Twitter profile Documenting Bitcoin is taken from research by Crypto.com.
#Bitcoin now has roughly the same amount of users as the Internet had in 1997, and growing at a faster pace. pic.twitter.com/aihSiSc2Ye
— Documenting Bitcoin
(@DocumentingBTC) June 24, 2021
The graph shows that Bitcoin currently has roughly 500 million users, the same as the internet had in 1997.
According to this research, by 2024 cryptocurrencies will have 1 billion users, with a growth rate of 80% per year. Then in the following years, presumably until 2030, the number of Bitcoin and crypto users will reach 3.7 billion, far more than the internet had in 2006 (about 1 billion).
In short, this graph seems to be decidedly optimistic about the growth of bitcoin adoption. However, for some users the comparison is inappropriate.
Indeed, the Internet has proved to be irreplaceable and has significantly improved social organization. Bitcoin on the contrary is described by some as “good but not necessary”, at least as long as there are other forms of money and other forms of safe haven.
Why will Bitcoin users continue to grow
However, Bitcoin and the internet have something in common. Both were and are said to be going nowhere. We know how it turned out: today we could not do without the internet. Will we reach a point where we cannot do without Bitcoin as well? That is the question that remains open.
The graph seems to suggest that the crypto world is still far too young. Indeed, Bitcoin is just over 10 years old and therefore has plenty of time to grow, improve and gain the trust of users.
Certainly, BTC has made great strides in the last year: it has reached new records, increased adoption by institutional investors, and has even become legal tender in El Salvador. In short, everything suggests that BTC is not a passing fad or “rat poison”, but its use is bound to grow, as are its functions.
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