Slowly at first, and then all at once... Research points to a Billion people owning Bitcoin within 5 years

in bitcoin •  last month 

New Report finds roughly 100 million people own crypto globally...

How many people do you think own bitcoin and crypto currently? Do your friends or family own bitcoin/crypto?

If you answered this question last year it would probably be a lot less than if you answer this question today.

Personally I know quite a bit of family and friends that are starting to get into bitcoin and crypto, mostly without me saying anything to them about it.

You see, I have this investing rule where I never give investment advice to friends or family, ever. The only thing I will do is tell them what I am doing if they ask...

The reason for this is because if I give them a tip or some advice and it doesn't work out, I never hear the end of it. It can damage relationships and friendships. And if I am right, I rarely even get so much as a thank-you.

Therefore doing a quick cost/benefit analysis shows that it's simply not worth it to give investment advice to family or friends.

Hopefully those readying my blog also know that I am not giving advice but instead simply relaying my personal views and thoughts and moves. I don't know your personal situation and therefore cannot give investment advice, even if I wanted to.

Back to the Report...

Anyways, there was a new report that came out from Crypto.com that estimated there are currently more than 100 million crypto users globally...

image.png

(Source: https://assets.ctfassets.net/hfgyig42jimx/5u8QqK4lqjEgL506mOx4m3/d44d8e204aecfc75a839e2a9d505f5d1/Crypto.com_Data_Report_-_On-chain_Market_Sizing.pdf)

The full report can be seen in that link above. There's a lot of good info in there and worth the read if you get the chance.

That is actually a slightly bigger number than I expected, but in the grand scheme of things, it's still a pretty small number.

Based on the current growth trajectory a much bigger number is likely ahead of us...

A number that Michael Saylor couldn't help buy notice as well.

Bitcoin has the wrong market cap...

Based on the current trajectory, we are likely to see a billion people involved in crypto roughly 5 years from now.

Though Saylor takes it a step further and says a billion people will own bitcoin 5 years from now:

image.png

(Source: https://twitter.com/michael_saylor/status/1365034820187918340)

A billion people!

That represents about 13% of the entire globe owning bitcoin within the next 5 years.

That's a big number...

If that is indeed the case then Michael Saylor is right, an asset with just 18 million coins in circulation (not counting the like 3 million or so that are likely lost forever) and a market cap south of a trillion is just too small for something with a billion people holding it.

Either bitcoin's going away or it's got the wrong market cap, myself and Saylor are betting on the latter.

Stay informed my friends.

-Doc

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  ·  last month (edited)

OK i bought some GBTC back at 40 on Friday, while it was way under sopt, and now BTC is going down! Lol not worried i’ll dca if it keeps up still got lots more cash!! Still could hit 25 or 32, hope it goes to the moon!