The number of Bitcoin users is expected to rise from just over 300 million to 1 billion over the next three years, according to analyst Willy Woo.
#Bitcoin took 6 months to get 1000 users; 5 years to find 1 million users.
Today, 13.8 years from inception, it has 300m+ users, 4% of the world.
At current growth rates, 1 billion users will be hit in the next 3 years. That’s 12% of the world. pic.twitter.com/akMbNySaGw
— Willy Woo (@woonomic) October 12, 2022
He noted that it took Bitcoin six months to form an audience of the first 1,000 users.
Five years were needed for the figure to rise to 1 million. The network reached more than 300 million roughly 13.8 years after the formation of the genesis block.
1 billion users in three years would correspond to about 12% of the world’s population, he said.
For comparison, Woo cited PayPal’s audience of 430 million and Twitter’s 400 million, most of which, in his view, are bots.
As reported, Huobi analysts put the number of cryptocurrency users at 320 million by the end of 2022.