Crypto has “outstripped” the growth of cell phones and the internet

According to a new report from $10 trillion asset manager BlackRock, crypto has “outpaced the growth of cell phones and the Internet.” In fact, BlackRock says the cryptocurrency industry has amassed 300 million users, reaching the milestone faster than cell phones and the World Wide Web.

According to NPR, the first cell phone was used in 1973 and reached 300 million users in 21 years. The Internet, meanwhile, was born on Jan. 1, 1983, and reached 300 million users in about 15 years, according to data from the University System of Georgia. But based on the initial price of Bitcoin set in 2009 at launch, the crypto industry has amassed 300 million users worldwide in just 12 years.

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

• Global changes: certain trends such as inflation fears, global political divisions, and banking and financial issues have increased bitcoin’s resonance as a decentralized asset.

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

Also read: Tether announces it will move to El Salvador

Bitcoin, cryptocurrency to flourish in 2025

By 2025, Bitcoin will have a market capitalization of $1.82T. It has breached $2T multiple times in recent months as the BTC price dips between $92,000 and $105,000. In the coming years, experts see Bitcoin and other cryptocurrencies as critical to the future of several economies. One of the biggest factors in this potential growth, especially in the US, is the arrival of crypto ETFs.

Bitcoin and Ethereum ETFs have pushed cryptocurrency into the spotlight over 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 said in its latest ETF report.

In other BlackRock news, following the huge success of the company’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 giving clients access to a growing world of investments,” said iShares Canada CEO Helen Hayes. In addition, the move will give Canadian investors the opportunity to “gain exposure to Bitcoin” while removing the complexity of self-hedging.

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