Slowly at first, and then all at once... Research points to a Billion people owning Bitcoin within 5 years
New Report finds roughly 100 million people own crypto globally...
How many people do you think own bitcoin and crypto currently? Do your friends or family own bitcoin/crypto?
If you answered this question last year it would probably be a lot less than if you answer this question today.
Personally I know quite a bit of family and friends that are starting to get into bitcoin and crypto, mostly without me saying anything to them about it.
You see, I have this investing rule where I never give investment advice to friends or family, ever. The only thing I will do is tell them what I am doing if they ask...
The reason for this is because if I give them a tip or some advice and it doesn't work out, I never hear the end of it. It can damage relationships and friendships. And if I am right, I rarely even get so much as a thank-you.
Therefore doing a quick cost/benefit analysis shows that it's simply not worth it to give investment advice to family or friends.
Hopefully those readying my blog also know that I am not giving advice but instead simply relaying my personal views and thoughts and moves. I don't know your personal situation and therefore cannot give investment advice, even if I wanted to.
Back to the Report...
Anyways, there was a new report that came out from Crypto.com that estimated there are currently more than 100 million crypto users globally...
The full report can be seen in that link above. There's a lot of good info in there and worth the read if you get the chance.
That is actually a slightly bigger number than I expected, but in the grand scheme of things, it's still a pretty small number.
Based on the current growth trajectory a much bigger number is likely ahead of us...
A number that Michael Saylor couldn't help buy notice as well.
Bitcoin has the wrong market cap...
Based on the current trajectory, we are likely to see a billion people involved in crypto roughly 5 years from now.
Though Saylor takes it a step further and says a billion people will own bitcoin 5 years from now:
(Source: https://twitter.com/michael_saylor/status/1365034820187918340)
A billion people!
That represents about 13% of the entire globe owning bitcoin within the next 5 years.
That's a big number...
If that is indeed the case then Michael Saylor is right, an asset with just 18 million coins in circulation (not counting the like 3 million or so that are likely lost forever) and a market cap south of a trillion is just too small for something with a billion people holding it.
Either bitcoin's going away or it's got the wrong market cap, myself and Saylor are betting on the latter.
Stay informed my friends.
-Doc