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1 Billion Crypto Users Milestone To Be Hit In Less Than 10 Years - Study

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July 24, 2022
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A joint study by Boston Consulting Group (BCG), Bitget and Foresight Ventures revealed that the adoption of digital assets is still in its infancy. If the trend continues, the total number of cryptocurrency users should reach one billion by 2030, the entities claim.

Do not miss: WHERE TO BUY BITCOIN AND CRYPTOMEN

Adoption is gaining momentum, the milestone of one billion cryptocurrency users will be reached by 2030

According to research is cryptocurrency adoption still at its nascent point as only 0.3 % of total individual wealth is allocated to this asset class. By comparison, 25 % of people's funds are allocated to stocks.

North Americans are most inclined to invest large sums in digital assets, while Africans are in the other corner. On average, one investor from the African continent holds around $190 worth of cryptocurrencies.

Despite the low adoption rate and the recent market downturn, BSG, Bitget and Foresight Ventures expect a new wave of people to join the digital asset sector in the coming years. Comparing the asset class to the development of the Internet in the 1990s, the entities calculated that the number of cryptocurrency users is likely to reach one billion by 2030.

It is worth noting that professional traders find the digital asset sector more attractive than others. Retail investors allocated approximately $300 million or 4 % of their assets to it, while institutional investors allocated 2 % of their total portfolio.

"Among institutional investors, hedge funds and venture capital companies are the most willing to invest. These players nearly doubled their exposure to $70 billion from the fourth quarter of 2020 to the end of 2021. We expect allocations to continue to grow,” the study said.

The report also mentioned some of the biggest corporations that own cryptocurrencies, including Tesla and MicroStrategy. However, it is worth noting that the former company recently sold 75 % of its BTC for more than $930 million.

The CEO of Coinbase has the same forecast

In May of this year, Brian Armstrong – CEO and co-founder of Coinbase – also predicted that the total number of cryptocurrency users worldwide would reach one billion. Contrary to the above study, the CEO believes that this milestone will be achieved in the next 20 years.

Armstrong's forecast is not without logic, as cryptocurrency adoption has been on the rise recently, especially during the bull run last year. During the first six months of 2021, the number of individuals involved in the market more than doubled and reached more than 220 million.

Some sources state that more than 300 million people are currently classified as cryptocurrency users.

You might be interested in: 7 FAVORITE WAYS TO BUY A BITCOIN CARD IN 2022

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All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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