The Rising Tide of Bitcoin Users: An Analysis of Global Adoption Trends

Global Growth of Cryptocurrency Holders

Recent findings from researchers at the Cambridge Centre for Alternative Finance have unearthed some jaw-dropping stats: approximately 100 million people around the globe are holding Bitcoin (BTC) and other blockchain-based assets. That’s enough wallets to fill a football stadium several times over! Just in case you were wondering, that number has skyrocketed compared to 2018 when a mere 35 million identity-verified crypto users were counted worldwide.

Account Surge: What’s Behind the Numbers?

Fast forward to Q3 2020, and the number of accounts opened at crypto exchanges reached a whopping 191 million! And let’s not forget, this figure doesn’t even account for self-hosted wallets, which could mean even more crypto enthusiasts are out there living that digital currency dream. The researchers attribute this incredible 189% increase in users to a combination of factors:

• A 37% rise in the number of accounts.
• More accounts linked to individual identities, thus improving the accuracy of user estimations.

Geolocation Insights: Who’s Leading the Crypto Charge?

The study also sheds light on where users are flocking from. It appears that North America and Europe are leading the pack, with firms from these regions reporting higher user activity. The median firm noted that 40% of total users are considered active. In comparison, firms based in APAC and Latin America lagged behind with just 16% and 10% active users, respectively. Looks like the crypto wave is making bigger ripples in some regions than in others!

Methodology Breakdown: Are the Stats Trustworthy?

Delving into how these forensic-like stats were gathered, the researchers combined public data and conducted surveys. They employed a mix of verified user data alongside the average share of ID-verified accounts surveyed throughout the study. However, they also put a caveat on their findings, recognizing limitations in their methodology. But fear not! They maintain that these numbers provide a “reliable, approximate figure” of crypto asset holders, so at least we know they’re not just throwing darts in the dark.

The Future of Cryptocurrency: What’s Next?

As we push further into an era dominated by digital assets, it’s intriguing to ponder the future of cryptocurrency adoption. With the popularity increasing and more regions catching on, we might just find ourselves in a world where storing your savings in Bitcoin is as common as keeping cash in a wallet. Buckle up, folks; the crypto roller coaster is just getting started!