Bitcoin, being the first and most expensive digital coin, has a massive global user base and this is no surprise, especially when the factor of decentralization is taken into account. People love bitcoin because of the security, anonymity, and ease of use it offers. For the most part, however, bitcoin presents a remarkable investment opportunity that is not controlled by institutional forces.
Of course, there are negatives, as with everything else. The same anonymity that BTC users cherish also makes it a medium of transaction that has raised concerns within governments as it can facilitate large-scale criminal activity. There are also issues regarding the mining of the asset, but the process is expected to employ much greener operations in the coming time.
The numbers are similar
Speaking of the popularity of bitcoin, there are a large number of active users and holders. It has been pointed out that there are as many BTC users as the internet had when it first started in 1997. The internet is now by far the most popular thing in the world. But there was a time when it was a novelty that some of the best minds doubted.In 1997, however, there were approximately 121 million Internet users worldwide. To put this in context, less than one percent of the world’s population used the Internet two years ago. There were just under 45 million users in 1995, but their number had grown to over 77 million by 1996 and crossed the 100 million mark at some point between 1996 and 1997.
Right now, there are about as many BTC users as there were internet users in 1997, with 2021 the year the number of users surpassed 100 million. Bitcoin, however, is growing at a faster rate than the internet was then.
When can we expect 1 billion?
According to the data cited above, the number of Bitcoin users is expected to reach the billion mark by 2024. Of course, given the number of developments that take place daily in the cryptocurrency space, we could get there way before.
That bitcoin and blockchain are growing at a faster rate than the net should come as no surprise as the World Wide Web is the primary enabler.