Bitcoin Adoption Surpasses Internet and Mobile Phones
The report showed that it took mobile phones 21 years and the internet 15 years to reach 300 million users. However, crypto assets achieved the same target in 12 years
A recent market insights publication by Blackrock revealed that the adoption of crypto assets, especially bitcoin has outpaced the growth of the internet and mobile phones.
The adoption of crypto assets has been driven by their global and decentralized nature with crypto seen as a global monetary alternative, due to the waning confidence in governments and institutions that issue fiat currencies.
Since its introduction in 2009, the popularity of bitcoin which is the world’s most widely adopted crypto asset has accelerated even more quickly than that of other ground-breaking technologies like mobile phones and the internet.
The report showed that it took mobile phones 21 years and the internet 15 years to reach 300 million users. However, crypto assets achieved the same target in 12 years.
This adoption has been accelerated by the heavy interest of the younger generation typically known as the “digital natives” along with inflation worries, political conflict, monetary policies, and the digital transformation of the global financial economy.
