BlackRock says bitcoin adoption outpaces the internet and mobile phones

Since bitcoin’s launch in 2009, its adoption has outpaced that of the internet and mobile phones, according to BlackRock.

It took the first cryptocurrency 12 years to reach 300 million users, versus 15 for the internet and 21 for mobile phones.

Bitcoin’s faster trajectory has been driven by:

• demographics—the young are considered “digital native”, which makes them more predisposed to adopt the first cryptocurrency than Generation X and baby boomers.
• global shifts—rising inflation expectations, political discord, and banking and fiscal problems;
• the transformation of the global financial system—lower barriers to access and new use cases for digital gold.  

According to BlackRock, bitcoin ETFs marked an important milestone for cryptocurrencies and traditional markets, opening access to the asset.

Earlier, CF Benchmarks experts suggested that in 2025 investment advisers will increase their positions in exchange-traded funds based on digital gold and Ethereum by more than 50%.

In 2024, issuers of BTC ETFs and public companies purchased 859,454 BTC, according to K33 Research. That equals 4.3% of the available supply and is equivalent to the next eight years of coin issuance by miners.