Cryptocurrencies have become the new mainstream financial currency to favor in modern times. Whether they can be defined as a currency itself that’s a whole different question. What is not questionable is how Bitcoin has taken over the financial market and has gone far and beyond to dominate further than blockchain.
Whether dealt at sports betting sites, at an Online Casino or used to purchase specific goods or services, Bitcoin still dominates as the most important cryptocurrency in today’s market. Whether that’s considered just a simple statement or not, there are numbers to back up these claims.
Bitcoin Surpasses $1 Trillion In Value
Standing as the first form of cryptocurrency available, Bitcoin has not only retained such popularity but has been able to surpass it by unthinkable margins. All Bitcoin in the market combined have a net worth of over $1 trillion.
More specifically, Bitcoin has topped at $1.03 trillion. That’s considering that there are over 18 million bitcoins in the market currently. To experts, this sudden increment was imagined at some point, yet these are figures that are difficult to get a grip on.
These numbers prove that bitcoin is still the giant in the world of cryptocurrencies. No other competitor is coming close to these numbers and what they represent in terms of popularity. Financial experts predict that Bitcoin will remain on the rise in the following years.
Excessive Number of Bitcoin Wallets
Portraying how popular any product or service is might prove to be quite challenging. Still, some numbers prove how a financial market can undergo exponential growth. These tend to consider users and most factors related to the widespread use of cryptocurrencies.
For Bitcoin, the numbers have been quite impressive. Today, there are over 79 million wallets explicitly registered for Bitcoin exchange. That means that over 46 million Americans have or are part of the joint ownership of Bitcoin just in the U.S. That is over 20 percent of the country’s population.
Bitcoin has exceeded all estimates, marks, and records as the leading online currency. With so many folks now involved in the game, the number of digital wallets is expected to increase at a minimum of five percent per year in the United States. That probes that the momentum for Bitcoin is just building.
Bitcoin Popularity on the Rise
Some statistics have also shown that nine of every ten Americans have heard of Bitcoin at some point in their lives. Although more than 50 percent of them don’t understand the basic functioning of cryptocurrencies, a trend has continued to remain on the rise.
Although the Bitcoin market has already surpassed the trillion dollars, it’s expected to grow in the next several years. According to experts, by 2025, the market will have increased by at least an additional $39 billion.
These expectations are not based on unsupported data. Since 2018, Bitcoin users have increased by up to 155 percent. With these numbers on the table, it’s hard to refute any projection placing Bitcoin well above mild market expectations.
Visible Generational Trends
Some experts have pointed to some interesting generational trends that have also propelled the increase of Bitcoin use among some of its younger market participants. For example, it’s estimated that almost 30 percent of all American Millennial parents own at least a small amount of Bitcoin.
This trend shows that bonds and saving accounts are no longer topping the list as the prime investment for the children’s college funds. Instead, some younger parents have decided to opt for Bitcoin to invest in household-related needs.
Those needs have also translated to property, real estate, and even future businesses. Yet, what is most important is that the way some Americans are thinking about Bitcoin is changing.
No longer is it just seen as a popular growing cryptocurrency trend. Instead, it has become a reliable investment for a significant portion of a younger market.