Opinion: by 2024, the number of users of bitcoin will reach 200 million

According to RT, analysts expect the number of users of bitcoin will reach 200 million by 2024, given the current exponential growth of the popularity of bitcoin.

The Cambridge study in March 2017 Holmanom Garrick (Garrick Hileman) and Michael Rauha (Michel Rauch), showed that the number of active users of bitcoin wallets is in the range from 2.9 to 5.8 million people.

Since then, however, proportional to the price of bitcoin, the user base of crypto-currencies is actively growing. Only Coinbase, the largest cryptocurrency exchange and digital wallet platform, serves more than 13 million active users. At a major regional bitcoin exchanges such as in Japan, Bitflyer and Bithumb in South Korea, also registered almost a million users.

If we add to this users ‘ hot wallets or addresses of bitcoin on exchanges, the number of unique users of the cryptocurrency rose past $ 10 million.

Driving forces

If the number of active users will reach 200 million, then bitcoin will penetrate the world markets and the vast majority of investors and ordinary consumers will use it as a reliable way to store tools and as a digital currency.

The emergence of bitcoin futures on the CBOE and CME
will contribute to the proliferation of bitcoin in the traditional financial markets, among large institutional investors, retail traders, hedge funds and investment companies. And since billions of institutional funds flowing into the bitcoin market, users and investors will follow.

Then more financial institutions, financial services providers and FINTECH platforms will begin to provide the services associated with bitcoin, increasing the ease of use and liquidity. In November popular and widely used FINTECH-app Square has already implemented the bitcoins, allowing its users to store, to buy or sell cryptocurrency.

Shinhan, the second largest Bank of South Korea, has begun testing the possibility of providing customers with a bitcoin wallet for safe keeping.

«Shinhan is testing virtual storage platform bitcoin where the private keys of bitcoin wallets are controlled and issued by the Bank. The Bank intends to provide free service to store and charge a fee for withdrawing funds», — said the representative of Shinhan.

And finally, since bitcoin is increasingly strengthening its position as a global way of storing values, more active users start to use cryptocurrency every day, replacing her Fiat currency.

After service providers and bitcoin exchanges integrate Lightning and other potential solutions for scaling, an even greater number of users can use bitcoin to implement both small and large payments, the first will be handled in the channels of Lightning, and the last one directly in the blockchain, with a higher Commission.

The prediction of brothers Winklevoss

The brothers Winklevoss-known figure in the cryptocurrency industry, which is considered one of the first «was crypto-billionaires», who made his fortune in bitcoin, presumably owned 120 000 bitcoins – a little less than 1% of the number of coins currently in circulation.

The brothers think that bitcoin have a bright future ahead – it is possible that its market capitalization will reach a trillion dollars. In an article for CNBC, Cameron Winklevoss said:

«We have always felt that bitcoin is gold 2.0 — it destroys the rule of gold. A little gold, and the number of bitcoins is limited to a specific number. Bitcoin is more portable and better divided. In the long term bitcoin multi-trillion asset, but I don’t know how many he will need time to become one. While it’s hard to say.»

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