According to industry insiders, the cryptocurrency industry may be just one cycle away from full mainstream adoption, which would make digital assets a globally accepted alternative payment method.
According to a research report released by centralized exchange Crypto.com in December, it is estimated that there will be 659 million cryptocurrency holders by the end of 2025.
However, Thomas Prévot, the head of operations for Crypto.com in France, stated that ongoing cryptocurrency adoption could see the industry surpass 5 billion users within the next decade.
"In ten years, we will reach 5 billion users," Prévot said during a panel discussion at the Waib Summit 2025 in Monaco, adding:
"We have one more cycle," Prévot explained, noting that the 5 billion milestone means that cryptocurrencies will be used as "ubiquitously" as credit card payments are today.
However, he added that he only expects the next wave of mainstream adoption to occur after the market recovers from the upcoming "down cycle" and the next bull market cycle begins.
Reaching the first billion users would mark significant mainstream acceptance, potentially establishing cryptocurrencies as an alternative payment system and realizing Satoshi Nakamoto's original vision of creating Bitcoin (BTC) as a censorship-resistant peer-to-peer transaction tool.
Popular Bitcoin analyst Willy Woo predicted in August 2024 that mainstream cryptocurrency adoption, based on a hypothetical 3% portfolio allocation, could drive Bitcoin to an "ultimate price" of $700,000 per coin.
According to Roy van Krimpen, General Manager of OKX in Western Europe, retail "price speculation" could be the first path to bringing in the first billion cryptocurrency users, similar to the market cycle of 2021.
"Reaching a billion can be achieved in one of two ways," he stated during the panel discussion, adding that "price speculation is a huge driver of retail interest."
"The second option is through the actual use of blockchain technology," such as payments, which means "changing consumer behavior," and would take longer compared to other market trends, he explained.
Other industry insiders, including Chintan Turakhia, Senior Director of Engineering at Coinbase, also believe that the availability of blockchain applications and more beginner-friendly applications are key to reaching the first billion cryptocurrency users.
Related: Analysts say artificial intelligence (AI) will disrupt the stock market, driving investors towards Bitcoin (BTC)
Original article: “Opinion: Cryptocurrency is just one ‘growth cycle’ away from mainstream adoption, with users reaching 5 billion”
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