- Raoul Pal, CEO of Real Vision, predicts that the number of cryptocurrency users will exceed 1 billion in 2025, with adoption rates outpacing those of the internet.
- Despite significant growth in the global cryptocurrency user base and adoption milestones, cryptocurrencies still struggle to break into mainstream use, remaining primarily a speculative tool with limited impact on global e-commerce.
The number of cryptocurrency users is expected to top 1 billion, according to Raoul Pal, a financial journalist and co-founder and CEO of Real Vision, a financial media platform.
Cryptocurrency developed at an astonishing speed these years
According to Pal, the number of cryptocurrency users will surpass one billion in 2025. This forecast comes on the heels of Crypto.com’s report revealing that the global cryptocurrency user base surpassed 500 million in 2023, marking a significant 34% increase from the previous year despite minor financial challenges.
The industry managed to reach significant adoption milestones despite micro-financial headwinds. For comparison, there are more than 5 billion internet users around the world, according to data provided by Statista. Just a few decades ago, there were very few internet users. Prominent venture capitalist Marc Andreessen made a comparison between crypto and the internet back in 2014.
As noted by Pal, cryptocurrencies are still being adopted “at twice the speed” of the internet.
Also read: Cryptocurrency heists witness 55% drop to $1.7 billion in 2023
Is crypto really as big as the internet?
However, it is worth noting that the internet encompasses various use cases that make it an integral part of everyone’s life. Unlike the internet, which has become an indispensable part of daily life, cryptocurrencies still struggle to find utility beyond speculative trading. Despite their promising applications, they represent a minuscule fraction of global e-commerce, languishing at a mere 0.2%.
Moreover, a recent report by Architect Partners contradicts Pal’s analysis. The report has concluded that cryptocurrencies are being adopted at a slower pace compared to the internet. The internet also attracted more money at the peak of its bubble. Back in 2000, the internet industry was worth a stunning $5.6 trillion. The entire cryptocurrency market is worth $2.6 trillion as of today.
