Former Goldman Sachs executive Raul Pal says a chart that has trended well over the past five years means Bitcoin (BTC) and the cryptocurrency are on track to reach 4 billion users. He said that it shows.
In a new video update, RealVision's CEO says that by the end of 2025, there will likely be more than 1 billion users of cryptocurrencies.
Pal's predictions are based on a model that compares early internet adoption rates to the rate of user growth for cryptocurrencies since 2016, when they first reached 1 million users.
“The Internet was the fastest technology adoption the world has ever seen, growing at 76% per year, but slowing to 43% per year after the eighth year.
Cryptocurrency is growing at 137% annually. Currently, there are 187 million Internet users compared to 516 million Internet users at the same stage.
So what we've done is assume that the growth of cryptocurrencies will only slow down to the same extent as the internet. I don't think that will happen. I think it will happen sooner, but by the end of 2025 the number of users will reach 1.1 billion. ”
But looking further ahead, Pal says half of the world's population will have adopted Bitcoin and cryptocurrencies by the start of the new decade.
“If we take advantage of the growth in internet penetration and further forecast and slow down the growth rate of cryptocurrencies to the same level as the internet in the future, the number of users will reach 4 billion by 2030, which is more than the world population. That's half of that.”
Will this be perfect? It's been pretty perfect so far and I've been viewing this chart for 5 years. But let's assume that's not the case. Either way, these numbers are surprising. ”
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Featured image: Shutterstock/Eky Rima Nurya Ganda
