The Cryptocurrency industry could hit 1 billion users by the end of 2025 according to Bitcoin Analyst Willy Woo.
According to CoinTelegraph, Willy Woo took to his X platform to post his postulations and the parameters that he used to make his prediction.
- “On track for 1 BILLION crypto users by the end of 2025. An extrapolation of many independent prior studies in this chart. Binance estimates that 65% of crypto users hold Bitcoin.” Willy Woo said.
Willy Woo, who presented a chart showcasing his prediction was replied to by Daniel Batten, investor and author of the Bitcoin ESG Forecast.
Batten said Woo’s chart was the first comprehensive model aiming to map out all existing crypto asset users and to predict the first billion adopters.
The chart presents crypto users as unique entities that have completed their Know Your Customer (KYC) verification and have previously transacted on the blockchain.
Reaching the first billion users of cryptocurrency has been recognized as a major milestone in the crypto world. The news could spur mainstream crypto adopters to input fresh capital into the market resulting in the appreciation of digital asset prices.
Willy Woo’s chart is the first major prediction of when crypto users will hit the 1 billion mark this year.
In a 2022 joint report, the world’s largest management consulting firm, Boston Consulting Group, along with Bitget and Foresight Ventures, is estimated to reach the first billion crypto users by 2030.
What to Know
- The number of cryptocurrency owners increased by 34% to 580 million in 2023, according to a January 2024 report by Crypto.com.
- Bitcoin holders grew by 33%, from 222 million in January to 296 million in December 2023, accounting for 51% of global crypto holders. The report notes that the developments around the Bitcoin exchange-traded funds (ETFs) were the main catalyst behind user growth.
- However, the current 580 million users would need a 72% increase to reach the first billion, which seems unlikely based on 2023’s growth.
