Bitcoin is Here to Stay: Facts and Numbers
With a relatively short history, Satashi Nakamoto, Blockchain, and Bitcoin have all become household names that set the base for all global cryptocurrencies.
Just as popular as its origins, Bitcoin often makes news headlines, grabbing the attention of financial traders, which has increased its exposure and adoption rate.
As time passes by and the crypto space tries to overcome the heavy obstacles that were thrown at it, investors are showing more interest in this scarce coin, all while planning for what lies ahead of them: investing in Bitcoin, as it is a matter of when- not if.
Blockchain/ Bitcoin facts
As reported by exploding topics:
- Bitcoin is free of any third-party control, whether governmental or organizational, yet it is also ‘rare’; the limited supply of 21 million bitcoins worldwide has contributed to the exclusivity of this cryptocurrency and its volatility over time.
- More than 83 million people as of July 2022 created unique Bitcoin wallets on Blockchain.com. That’s about 72% more than a year earlier, and a 237% increase since 2018.
- There are more than 250,000 confirmed transactions of Bitcoin daily.
- Research from July 2021 shows that 89% of American adults have heard of Bitcoin.
- About 1 billion people around the world will use cryptocurrencies in 2022.
- About 46 million Americans (roughly 22% of the adult population) own a share of Bitcoin.
- By 2025, financial analysts say, the global blockchain market will grow by USD $39.17 billion.
- Satoshi Nakamoto is a billionaire. The cryptocurrency creator is thought to own 1 million Bitcoins, a net worth of about USD $40 billion to USD $60 billion.
- Because Bitcoin has no government regulation, several countries have banned the cryptocurrency at various times or at least warned owners of Bitcoin accounts about exchanging it. These include: Bolivia, China, Columbia, Ecuador, Russia and Vietnam.
- El Salvador is the first and only country in the world to recognize Bitcoin as a legal tender as of June 2021. However, other countries welcome payment in Bitcoin under certain conditions, including: the US, Canada, Australia, the EU, the UAE and others.
Crypto around the world
By the end of 2022, 1 billion individuals worldwide will be using cryptocurrency exchanges, based on data from the cryptocurrency exchange, Crypto.com.
Knowing that the global blockchain market value will grow by USD $36.7 billion by 2025 at a compound annual growth rate (CAGR) of 68.34%, African, Asian and South American countries are the ones most likely to be interested in this technology. Based on a survey that was conducted in 2020, these countries include Nigeria (32%), Vietnam (21%), The Philippines (20%), Turkey and Peru (each 16%).
However, cryptocurrency has been on the rise in the US, as it started off with 6% and increased to 22% (46 million people), according to 2021 data from the New York Digital Investment Group.
Numbers from the New York Digital Investment Group in 2021 found that about 22% of the US adult population — or roughly 46 million Americans — own Bitcoin. Yet, few financial advisers manage this for their clients. More than 1 in 5 clients already own Bitcoin, but more than 80% of people with financial advisers want to learn more about this cryptocurrency.
It is important to note that in 2020, financial experts valued the global cryptocurrency market size at USD $1.49 billion, but demand for financial transparency and security are pushing the market growth. Financial forecasters project the global cryptocurrency market to reach USD $4.94 billion by 2030, at a CAGR of about 12.8%.
Bitcoin owners in numbers
According to Exploding Topics, as of July 2022, more than 83 million people had created unique Bitcoin wallets on Blockchain.com, which makes purchasing Bitcoin possible. That’s roughly 9 million users more than a year earlier, and about 43 million users more than in 2019 (a 93% increase).
Coinbase, another platform for access to Bitcoin, has more than 98 million users. Together, this amounts to at least 180 million Bitcoin wallets.
Note: a Bitcoin user might have more than one Bitcoin wallet: one account to trade Bitcoin and another account to store it and related funds.
In actual fact, the interest in Bitcoin has drastically risen compared to previous years. In July 2021, a conducted survey showed that around 89% of 1,700 American adults have heard of Bitcoin, 27% among them would consider investing in cryptocurrency, and 13% already had.
Another survey found that 80% of white respondents were more aware of Bitcoin than 66% of Hispanic respondents and 61% of African-American respondents. Also, another survey revealed that 78% of men who responded reported being aware of Bitcoin compared to 71% of women.
Bitcoin daily users
Knowing that the number fluctuates, data has shown that Bitcoin users amount to several hundred thousand, as more than 250,000 transactions of Bitcoin are confirmed on the daily, according to Blockchain.com.
Additional data points show that the number of daily transactions skyrocketed to more than 400,000 in January 202,1 but dropped to 289,000 as of September 1, 2021. While about 17% lower than a year prior, that’s still about 31% higher than another day that same week.
Thanks to major investors like Elon Musk, and many industries accepting crypto, interest in this space has thrived. In point of fact, schools, restaurants, car service companies, real estate companies, banks and many corporations, especially in Dubai, are now accepting crypto payments.
In conclusion, the price of Bitcoin is known to fluctuate, as it reached USD $60,000 in early 2021 before losing about 40% of its value in a matter of weeks. In addition to that, in late 2021, Bitcoin price hit the peak, reaching USD $68,000, dropping back to around USD $41,000 in early 2022, and getting to USD $21,000 to date.
With the market turmoil and the panic mode that kidnapped all investors, the future remains a bit blurry, but investors predict that more mainstream use will increase the bitcoin price by about 1,500% over the next decade.
