According to Raoul Pal, CEO of Real Vision, the number of cryptocurrency users will surpass one billion in 2025.
In 2023, the global cryptocurrency user base topped 500 million people, according to a report provided by Crypto.com. This marked a 34% increase compared to the previous year.
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 all the way back in 2014.
Yuri MolchanAs noted by Pal, cryptocurrencies are still being adopted "at twice the speed" of the internet.
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. For comparison, cryptocurrencies are yet to truly break into the mainstream.
Cryptocurrencies have so far failed to gain traction as a means of payment, accounting for a tiny 0.2% of global e-commerce. Digital assets are still viewed largely as a tool for speculation despite their promising use cases.
Moreover, a recent report by Architect Partners contradicts Pal's analysis. The report has concluded that cryptocurrencies are actually 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.
Vladislav Sopov
Dan Burgin