The number of bitcoin users will explode in 2024
123days ago

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Editors note: The cryptocurrency market is still young compared with the Internet's progress in 1994.


Today, getting an exact number of bitcoin users is difficult, but some data can give us a good estimate.For example, bitcoin market magazine shows that there are 32 million bitcoin wallets.More than half of the wallets (53%) were used for long-term investments or speculation.


In 2018, the number of bitcoin wallets passed the 20 million

So it’s said that we have 32 million bitcoin users today. That number is expected to grow by 525% by 2024. According to a report, experts predict the index of bitcoin users will increase from 32 million this year to 200 million in the next five years. At that point, bitcoin's vision will take a step further. In addition to investment and speculation, consumers will welcome bitcoin as a safe store of value and digital currency.

2024 is the expected year for cryptocurrencies to pay for food. 

Within five years, less than 20 percent of consumers will use cash or bank cards to pay for lunch. Nearly six in ten people will use cryptocurrencies for trading. In April, researched by IMF, the poll of 37,000 respondents showed that in 2024, 56 percent of respondents thought they would use cryptocurrencies to buy lunch:


According to the survey, many people expect cryptocurrencies to be one of the major forms of payment in the near term. 

Businessmen are adapting to the changing tide

With demand for bitcoin and cryptocurrencies expected to increase, merchants are quickly responding to the change.

A Kaspersky study shows that the number of businesses worldwide accepting bitcoin payments has surged 700 percent in the past six years. In 2013, 1,789 companies accepted bitcoin. In 2018, that number soared to 14,346.

Now, if we use the current growth rate of merchants accepting cryptocurrencies (70 times in five years) to predict the number of merchants accepting bitcoin in 2024, there could be more than 1 million stores accept bitcoin as a payment method. This is a conservative number because we only consider the early adoption phase. 

With more than 200 million people using bitcoin and other cryptocurrencies, more than 1 million stores accepting BTC payments, it's not so far-fetched to think that bitcoin could become a $5 trillion asset by 2024. It's hard to imagine, given the current situation. Bitcoin has a market cap of just over $127 billion. The cryptocurrency market is still young compared with the Internet's progress in 1994.


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