One of the biggest Bitcoin bulls these days is Michael Saylor of MicroStrategy, who not only bought close to 100,000 Bitcoin through the company he's a CEO of, all of that happening the last few months, but he also believes that the crypto users world wide will reach one billion in five years.
I hope India is included in his forecasts to. According to crypto.com around 100 million people around the world are using or are involved in crypto at the moment and I'd say that these will double by the end of the bull cycle. Price going up attracts more and more users, it's pure psychology, you don't need charts for that.
Markets Insider says that around 16% of all that one hundred million cryptonians have entered the game in the past month only, while a separate survey from financial advisory group deVere found 70% of its clients aged over 55 had already invested in digital currencies. The narrative according to which this is the revolution of the millennials gradually fades away.
My father is 60 and bought his first crypto about a week ago. Well, I actually helped him as he's not into tech and wouldn't do that by himself, but the shift in mentality from the current financial system to a better and decentralized one, is happening as we speak.
No matter what the banks, governments and other similar entities might call Bitcoin and crypto, this thing is like the bad luck, for them. You close the door, it gets through the window. I don't know how much you pay attention to the new crypto debit cards that get to the hands of the people all over the world, but I do.
Just today I read about Ripple launching its Visa debit card using XRP, which will be available only in the US for the moment and that's just one of the many as such. Big news I'd say... Cryptocurrencies are protruding the traditional banking and payments system and sooner than later they'll disrupt everything they touch.
The higher the Bitcoin price gets, the more users it will attract and the more users will get their hands on crypto the less aggressive bear markets will be.
I don't know if Michael Saylor's prediction for one billion crypto users in five years will come true or not, but I'd say the road's been paving for quite a while for this future reality. It's pointless to list all the new projects and changes that occurred since 2017, in this continually expanding space, not to mention how much it has matured in the past decade, after Satoshi created Bitcoin.
Five years in crypto are a lot in terms of development and mass adoption and if we've gone so far in less than five years since the last cycle, imagine where we're gonna be by 2026. Exponential growth, that's how I like calling it and it's something you can't compare with anything else. They used to say, back in the 2000's, that if cars would have evolved at the pace of computers we would have had at that time production cars driving with 1000 km/h on average.
Blockchain technology and crypto are evolving at an even higher pace, so do the math for yourself. Hope you're having a great day, if you're not on my time zone, and wish you a good night to my European followers. See you tomorrow.
Thanks for attention,