Nations to Adopt Bitcoin, Crypto Users to Hit 1 Billion by 2023: Report

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There is a silver lining for beaten Bitcoin (BTC) bulls. A promising report from Crypto.com predicts that global crypto users could reach one billion by the end of 2022.

The report concludes that a combo of developing countries copying El Salvador’s orange pill example and a “friendlier stance” towards the crypto industry means that “nations can no longer afford to ignore the growing public push for crypto.”

In 2021, the global crypto population grew by 178% in 2021, from 106 million in January to 295 million in December. While 2021 kicked off with Tesla and Mastercard joining the party with payments and crypto adoption, BTC drove growth in the second half of the year, effectively outpacing Ether (ETH) adoption. .

Looking ahead to El Salvador’s Bitcoin Legal Tender Bill, August was a bumper month for adoption, as shown in the chart below:

In light of the number of crypto users in 2021, Crypto.com estimates that “if we extrapolate a similar rate of increase in 2022, we are on track to reach 1 billion crypto users by the end of the year. end of 2022″.

However, it will take more than just one Latin American country adopting Bitcoin and sound crypto regulation in the United States to make this happen.

Related: Crypto liquidations top $700 million as altcoins hit by Bitcoin sinking below $40,000

Fortunately, a recent Fidelity report agrees on nation-state adoption; they “wouldn’t be surprised” to see more countries adopt BTC in 2022. As for the second part of Crypto.com’s prediction of a more crypto-friendly stance, the jury is out.

Given that the potential rocket fuel that is a US Bitcoin ETF continues to be rejected, and recent US crypto mining hearings were cautious at best, Crypto.com’s predictions are a saving grace. As prices drop, the report is welcome hopium for hodlers.

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