Crypto has “Outpaced” Growth of Mobile Phones and Internet

According to a new report from $10 trillion asset manager BlackRock, crypto has “outpaced growth for mobile phones and the internet.” Indeed, BlackRock says that the cryptocurrency industry has amassed 300 million users, reaching the milestone quicker than mobile phones and the World Wide Web.

According to NPR, The first cellular mobile phone was used in 1973 and achieved 300 million users in 21 years. The internet, meanwhile, was born on January 1, 1983, and reached 300M users in approximately 15 years, according to data from the University System of Georgia. However, based on the initial price of Bitcoin set in 2009 upon launch, the crypto industry has racked up 300M users worldwide in just 12 years.

BlackRock cites several key contributors to the industry’s rapid growth compared to mobile phones and the internet:

• Demographic patterns: younger generations are more likely to be considered “digital natives,” resulting in a greater predisposition towards bitcoin adoption than GenX and Baby Boomers.

• Global shifts: certain trends such as inflation fears, global political division, and banking and fiscal concerns have increased bitcoin’s resonance as a decentralized asset.

• Future of finance: the continued digital transformation of the global economy is changing the world of finance, with the maturation of digital assets infrastructure easing barriers of access and creating new use cases for Bitcoin.

Also Read: Tether Announces it Will Relocate to El Salvador

Bitcoin, Cryptocurrency to Prosper in 2025

In 2025, Bitcoin has a market cap of $1.82T. It has breached $2T multiple times in the last several months, as the BTC price teeters between $92,000 and $105,000. In the coming years, experts consider Bitcoin and other cryptocurrencies as critical to the futures of several economies. One of the biggest factors in this potential growth, especially in the United States, is the arrival of crypto ETFs.

Bitcoin and Ethereum ETFs have pushed cryptocurrency into the spotlight in the past year. BlackRock’s iShares Bitcoin ETF is one of the leaders in this financial sector. For context, IBIT allows you to access Bitcoin exposure in your traditional brokerage account. As an ETF, IBIT provides exposure to Bitcoin but trades like a stock. Therefore, it can be traded through traditional brokerage platforms alongside other investments. “The emergence of bitcoin ETFs marks a significant milestone for both digital assets and traditional markets,” BlackRock says in its latest ETF report.

Also Read: Bitcoin: How High Will BTC Go When Trump Takes Office?

In other news for BlackRock, Following the immense success of the firm’s US crypto offering, BlackRock has officially launched a Spot Bitcoin ETF on Cboe Canada. “The launch of the iShares Bitcoin ETF in Canada underscores BlackRock’s commitment to innovation and providing clients access to an expanding world of investments,” iShares Canada head Helen Hayes said. Moreover, the move will provide Canadian investors the ability to “gain exposure to Bitcoin” while removing the complexities of self-custody.

Cryptocurrency is growing in popularity worldwide, with more countries accepting digital assets as legal tender. That growth is expected to continue through the remainder of this decade, as countries look for alternatives to Fiat currency like the US dollar.