320M Crypto Users According TripleA
A Singapore research company has studied the number of crypto users and they came up with 320 million or roughly 4.5% of the global population.
In this video I discuss how adoption is going and while the number (whihc is mostly an estimate) is not the most important factor. In fact the quality of crypto users depends more than the quantity.
Here is the link to the article mentioned:
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That's incredible. We could hit a billion in the mid-term. So many people are exposed to cryptocurrency daily growth is almost guaranteed.
if we had like 1% of that number it would be groundbreaking
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5% of the world's population is a large amount since most of them make good profits even in a Bear market like the one we are going through now, but if the market takes a radical turn that amount can be multiplied
Summary:
In this video, the speaker discusses a recent report by a Singapore-based firm regarding the global population's involvement in cryptocurrencies. The report estimated that around 4.5% of the global population, roughly 320 million people, are utilizing cryptocurrencies. The speaker mentions that this trend is similar to the growth rates of the internet in the 1990s. Furthermore, he suggests that the adoption of cryptocurrency is not evenly spread globally. The speaker also delves into the different categories of cryptocurrency users, noting that some see it as an investment asset, while others use it for practical reasons in regions with unstable currencies. He emphasizes the importance of focusing on users who engage with cryptocurrency for its actual use case rather than just as a speculative investment.
Detailed Article:
The video starts off with the speaker referencing a new report from a Singapore-based firm that analyzed several reports and surveys to estimate the number of individuals engaged in cryptocurrencies globally. The report concluded that approximately 4.5% of the global population, equivalent to around 320 million people, are involved in cryptocurrencies. The speaker points out the challenges in obtaining precise numbers due to various factors such as pseudo-anonymity and the decentralized nature of cryptocurrencies. He acknowledges that while these figures are estimates, they align with the growing trend of cryptocurrency adoption worldwide.
The discussion shifts towards the comparison of cryptocurrency growth rates with the expansion of the internet in the 1990s. The speaker mentions that many analysts have drawn parallels between the two, with cryptocurrency growth estimated at around 60%, similar to internet adoption rates during its early stages. He acknowledges that there may be a margin of error in these estimations due to the uneven distribution of cryptocurrency adoption globally.
The speaker then delves into the demographic breakdown of cryptocurrency users, speculating that younger populations, particularly millennials in developed countries, likely have a higher adoption rate compared to older demographics. He attributes this trend to historical patterns seen in the adoption of new technologies, citing the differences in media consumption habits between younger and older generations.
Furthermore, the speaker predicts a shift towards greater cryptocurrency adoption as the older, technologically averse population decreases due to factors like retirement and mortality. He notes that in developing countries with unstable currencies, cryptocurrencies serve as a practical means for individuals to access stable assets like US dollars, bypassing traditional banking systems. This underlines the diverse reasons why people engage with cryptocurrencies, from investment purposes to practical use cases in regions with economic instability.
The discussion concludes with the speaker emphasizing the importance of focusing on users who embrace cryptocurrencies for their intended use cases rather than purely speculative investments. He highlights the potential impact of users who utilize cryptocurrencies for practical reasons, suggesting that they are the ones who will drive meaningful change in the adoption and integration of cryptocurrencies globally.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.