A new report shows that crypto adoption is still in an active growth stage. Only about 4% of the world’s population owns digital assets. However, within eight years, the number of cryptocurrency users could increase to 1 billion.
Data from a joint study by Boston Consulting Group, Bitget, and Foresight Ventures indicate that the level of crypto adoption around the world is growing. However, the adoption of digital assets is still low compared with traditional investment vehicles, which gives the crypto industry room for further growth.
According to analysts’ estimates, the total number of cryptocurrency owners is ~300 million, which is about 4% of the world’s population. About 0.3% of personal capital is currently held in crypto-assets, and ~2% of institutional investors’ portfolios contain cryptocurrency.
Analysts compared the rate of crypto adoption to the rate of other innovative technologies in the past and concluded that the number of digital asset users could potentially reach 1 billion by 2030. Therefore, the number of crypto users in eight years will amount to about 13% of the entire global population.
Recent surveys showed that about 76% of financial institutions are willing to use digital assets, and 85% of businesses see cryptocurrency payments as an opportunity to expand their customer base. Nearly 60% of buyers and sellers expect to be able to use cryptocurrency for payments as early as 2022.
Users of digital assets are growing in number. For example, Saudi Arabia saw a 76% year-over-year increase in the number of crypto investors, while over 60% of residents in major Latin American countries are willing to pay for their purchases in crypto.
