The number of crypto owners worldwide is expected to exceed one billion by the end of the year, according to a report by Crypto.com. “Nations can no longer afford to ignore the growing public push for crypto. We can in many cases expect a friendlier stance towards the crypto industry,” the company said.
There Will Be Over One Billion Crypto Owners Worldwide This Year, Report Says
Crypto.com has released its “Crypto Market Sizing” report last week showing analysis of cryptocurrency adoption around the world.
The global crypto population grew by 178% in 2021, from 106 million in January to 295 million in December, according to the analysis, which states:
The number of crypto users is expected to exceed one billion by the end of 2022.
The report explains that crypto adoption in the first half of 2021 has been “remarkable,” adding that the main driver of growth was bitcoin.
Additionally, “nations can no longer afford to ignore the growing public push for crypto. We can in many cases expect a friendlier stance towards the crypto industry,” the report states.
“We expect developed countries to devise clear legal and tax frameworks for crypto assets,” Crypto.com noted, adding:
More countries facing a highly inflationary economy and a depreciating currency could adopt cryptocurrency as legal tender, like El Salvador.
El Salvador adopted bitcoin as legal tender alongside the US dollar in September last year. Since then, the country has purchased 1,801 BTC for his cash. However, the International Monetary Fund (IMF) is concerned and has urged El Salvador to drop BTC as the national currency.
Despite the IMF’s stance on bitcoin, several people have predicted that more countries will make the cryptocurrency legal tender this year, including Salvadoran President Nayib Bukele. Financial giant Fidelity recently said it expects more sovereign nation states to acquire bitcoin this year “as a form of insurance.”
Do you think the number of crypto owners will reach one billion globally this year? Let us know in the comments section below.
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