According to a new research by Crypto.com, global crypto users could reach one billion by the end of 2022.
For wounded Bitcoin (BTC) bulls, there is a ray of hope. According to an optimistic forecast from Crypto.com, global crypto users could reach one billion by the end of 2022.
The paper concludes that a combination of developing nations following El Salvador’s orange-pilled example and a “friendlier approach” toward the crypto business means that “nations can no longer afford to ignore the growing public push for crypto.”
In 2021, the global crypto population expanded by 178 percent, from 106 million in January to 295 million in December. While Tesla and Mastercard joined the party with crypto payments and adoption in the first half of the year, BTC drove growth in the second half of the year, effectively exceeding Ether (ETH) adoption.
August was an amazing month for adoption in the run-up to El Salvador’s Bitcoin legal tender law, as demonstrated in the graph below:
Because the number of crypto users in 2021 surpassed one billion, Crypto.com predicts that “if we extrapolate a similar rate of increase in 2022, we will be on track to exceed one billion crypto users by the end of 2022.”
However, it will need more than one Latin American country adopting Bitcoin and some sound crypto regulation in the US to get there.
Fortunately, a recent Fidelity analysis concurs on nation-state acceptance, stating that they “wouldn’t be astonished” if more governments embrace BTC before 2022. The judgment is yet out on the second part of Crypto.com’s prediction of a friendlier posture toward cryptocurrency.
Given that the potential rocket fuel of a US Bitcoin ETF is still being refused, and the last US crypto mining hearing was cautious at best, Crypto.com’s predictions are a saving grace. The report comes at a good time for hodlers as prices continue to fall.