Bitcoin growing faster than internet in adoption, data shows

Despite the recent decline in the crypto market and investor interest, Bitcoin is growing faster than the internet.

This is according to data shared by Quantum Expeditions on 29 December, which shows that the number of new Bitcoin users per year significantly surpassed new internet users since 2021 and the trend has remained consistent since. 

Unprecedented growth

Bitcoin first launched in 2009 as a digital peer-to-peer cash. However, it has grown in an unprecedented manner since, reaching the price of over $100,000 within 15 years. 

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The growth is clearly due to the rapid adoption which is driven by several factors, the most important being government policy.

For instance, there is news that the head of the Securities and Exchange Commission (SEC) Gary Gensler will vacate his office by January 20. 

This news alone is enough to drive positive sentiment around Bitcoin since Gensler has led one of the most vicious crackdowns on cryptocurrencies.

Talks are also underway for establishing a strategic Bitcoin reserve under the Trump presidency which will come into power on January 20. Trump himself has publicly endorsed Bitcoin, giving investors much hope and driving adoption of the digital asset.

Another key factor is the approval of Bitcoin ETFs which was done at the beginning of the year, the impact of which has lingered to this day as Bitcoin managed to sustain a predominantly upward movement throughout the year.

Huge impact

Indeed, the impact of Bitcoin’s adoption has been felt over the years, especially this year. The asset is up 150% year till date, making it one of the best performing assets in the world. 

Recent data also shows that Bitcoin’s ETFs now hold more assets under management than gold ETFs despite its short existence compared to gold which has been around for centuries.