7.51% of the global population is using cryptocurrencies, expected to exceed the 8% mark by 2025, indicating a strong shift of digital assets from the niche market to the mainstream.
According to a report by MatrixPort, a cryptocurrency market research firm, an estimated 7.51% of the world's population, equivalent to over 560 million people, are using cryptocurrencies. MatrixPort analysts predict that this figure could exceed the 8% threshold by 2025.
The report states that Bit, the first and largest cryptocurrency in the world, is the primary driver behind the growth of the market. Since 2014, the market capitalization of Bit has skyrocketed from $10 billion to $1.2 trillion. Concurrently, the number of cryptocurrency users has grown exponentially from 5 million in 2016 to over 560 million currently. Bit continues to play a crucial role in shaping the market, particularly in the context of global economic instability.
Explosive Potential After the 8% Milestone
MatrixPort experts believe that crossing the 8% user threshold is a critical milestone for any new technology. After this point, the technology typically becomes more appealing and accessible to new users, paving the way for exponential growth. The year 2025 is expected to be the starting point for cryptocurrencies to establish a strong position within the global financial system.
A key factor contributing to the increase in the number of cryptocurrency users is the growing interest from institutional investors. Traditional financial giants like BlackRock and Grayscale have played a pivotal role in building trust in digital assets and driving their integration into the current financial system. The launch of new cryptocurrency investment products, such as Bit exchange-traded funds (ETFs), is creating a new wave of interest from institutional investors, helping to drive capital inflows into the market.
However, accurately determining the actual number of cryptocurrency users is a challenging task. According to Max Krupyshev, CEO of CryptoProcessing.com, this statistic is nearly impossible to track due to the ease of creating cryptocurrency wallets and the lack of personal information or account registration requirements, as in traditional finance. As a result, the number of cryptocurrency wallet addresses is often much higher than the actual number of users. Nevertheless, the growth in estimated metrics clearly reflects the trend of users becoming increasingly aware of the Block technology and viewing digital assets not only as an investment channel but also as a potential payment method.
The MatrixPort report also indicates that India, Nigeria, and Indonesia are leading in cryptocurrency adoption in 2024, highlighting the strong development potential of the market in these emerging economies.
