The recent data shows that the percentage of the world population that is currently utilizing the world’s largest digital currency Bitcoin (BTC) at the moment is equal to the entire usage of the internet in the year 1995. This clearly indicates that the first-ever decentralized cryptocurrency is still in its early stages of growth.
The major digital asset exchange Kraken’s Bitcoin (BTC) analyst in charge of growth Dan Held has shared an interesting fact while drawing out a comparison between the current usage of the leading cryptocurrency Bitcoin by the world population and the usage of the internet back in the year 1995.
According to Dan Held, the percentage of the world using the internet in 1995 is 0.5% while the %age of the world using Bitcoin (BTC) in the year 2020 is also 0.5%. Sharing this fact, Held said:
“% of world using the Internet in 1995 = 0.5%. % of world using the Internet in 2020 = 60%. % of world using Bitcoin in 2020 = 0.5%. What do you think the price will be when 60% of the population is using Bitcoin?”
So, according to this data, being in the early phase of its growth, the top-ranked digital currency is relatively at high growth.
The user activity of Bitcoin has also been significantly increasing since the year 2018 when the price value of the coin was crashed from its high value. According to the data provided by the Blockchain.com, the unique addresses’ number seen on the Bitcoin network has reached 687,638. This is clearly signifying a massive increase witnessed in the user activity of Bitcoin.
While on the other hand, the Winkelvoss brothers are also of the view that the leading digital currency is still in the early stages of growth. Tyler Winklevoss, one of the brothers said that Bitcoin is going to cannibalize gold. He said, “We believe that bitcoin will continue to cannibalize gold and that this story will play out dramatically over the next decade.”