Crypto Users Will Reach 1 Billion In Less Than 10 Years

According to a joint study conducted by Boston Consulting Group (BCG), Bitget, and Foresight Ventures, the total number of cryptocurrency users should tap one billion by 2030. 

The study says that only 0.3% of the total individual wealth is distributed in the asset class. At the same time, 25% of people’s funds are allocated to equities, such as shares of private companies. 

Comparing the asset class to the Internet’s development in the 1990s, the study suggests that the number of crypto users will reach one billion by 2030.

The retail investors have distributed around $300 million, or 4% of their wealth, in the crypto market. The institutional investors have allocated 2% of their total portfolio.

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The study says hedge funds and venture capital firms are most willing to invest in the crypto market. As a result, these players have almost doubled their exposure to $70 billion from the fourth quarter of 2020 to the end of 2021. 

In May, Coinbase Global Inc COIN CEO Brian Armstrong predicted that within a decade, one billion people will have used or tried crypto, up from about 200 million currently. 

“I guess that in 10-20 years, we’ll see a substantial portion of GDP happening in the crypto economy,” Armstrong said. 

“It’s been harder and harder to meet a true crypto skeptic in D.C. About 50% or more people in Washington are pro-crypto now,” Armstrong said.

During the first six months of 2021, the number of individuals involved in the crypto market more than doubled, hitting nearly 220 million.