The growth rate of Bitcoin's popularity is comparable to the initial internet distribution stages
The last 12 months turned out to be fateful for Bitcoin. The digital asset strengthened its position in the global financial system and gained value in the eyes of investors of all the masters and wallets.
However, some experts believe that this is just the beginning. The famous admin analyst Willy Wu extrapolated on Bitcoin the pace of distribution of the Internet and came to the conclusion that cryptocurrency is still at an early stage of distribution.
In Terms of Adoption, Bitcoin Has Roughly The Same Users AS The Internet Had in 1997.
- Willy Woo (@woonomic) FEBRARY 1, 2021
But Bitcoin's Growing Faster. Next 4 Years On Current Path Will Bring Bitcoin Users to 1b People, That's The Equivalent of 2005 for the Internet.
Will Bitcoin will be Internet for finance
Buing a distribution curve, Wu made forecasts for the coming years. Under the current rates of popularity of Bitcoin's popularity at the Internet level in 1997.At that time, there was no Google nor Amazon, nor smartphones, thanks to which people had their own computer in his pocket. Based on the calculations of Wu, the base of users of the Bitcoin is growing even faster than the number of users of the Internet. Under such rates, four years later the cryptocurrency will have a billion people. The Internet reached this level of distribution in 2005.
More details
Wu is confident in his counts. Moreover, he believes that the network is more decentralized and equal than it seems at first glance, based on statistics. In particular, almost 40% of BTC holders are small keys, which means that the coin is distributed more true than fiat money.
The data show that the number of small holders and so-called whales (institutions) is growing rapidly. Positive dynamics at both ends of the spectrum indicates the expansion of coverage and the growth of Bitcoin's popularity in all layers.
Means of accumulation
Satoshi Dzamoto created Bitcoin as a decentralized means of payments and savings. However, the second function is recently dominated over the first. Despite the fact that Bitcoin conceived, including both alternative to cash, many investors tend to compare it with gold.
Bitcoin as a means of saving is quickly gaining popularity and attracts new users. Even if it does not become the main digital currency, at least, will provide the opportunity to hedge inflationary risks of fate money.
The network effect Bitcoin is gaining strength. As in the case of the Internet, the more people begin to use them, the more popular it becomes.
The POST four years later, Bitcoin will use more than 1 billion people Appeared First On Beincrypto.