Crypto Users May Hit 1B in 2024, Bitfinex Analysts Claim

4:38 am
December 26, 2023
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## Bitfinex Analysts Predict 1 Billion Crypto Users by 2024

Cryptocurrency usage is steadily gaining ground on a global scale, and the recent performance of the market further solidifies the growing acceptance of digital assets. Bitfinex analysts have boldly projected that the number of users in the crypto space could potentially reach one billion by 2024, given the current bullish market trends.

The analysts’ report indicates that as of December 1, the global number of crypto users had already surged to 575 million, signifying a substantial increase from the 432 million users at the beginning of the year. This exponential growth in user base even amidst the tumultuous market conditions of 2023 demonstrates the resilience and potential for further expansion within the industry.

In their report, Bitfinex analysts outlined the possibility of global cryptocurrency owners escalating to between 850 and 950 million by 2024, contingent upon favorable market conditions. The crypto space is currently experiencing significant inflows, particularly in anticipation of potential approval by the United States Securities and Exchange Commission (SEC) of a spot Bitcoin exchange-traded fund (ETF). This development is anticipated to further stimulate market activity and attract more investors.

The analysts’ projection aligns with sentiments expressed by other industry experts, including Grayscale CEO Michael Sonnenshein and MicroStrategy’s Michael Saylor, who foresee a Bitcoin ETF approval as a catalyst for widespread Bitcoin adoption.

According to Bitfinex, the prediction regarding the growth of crypto users closely mirrors that of Statista, which forecasts a potential surge to nearly 833 million users by 2024. However, Statista anticipates reaching 992 million users at a later stage, around 2028.

Given the promising prospects for the crypto industry and the increasing influx of users, the path to one billion crypto users by 2024 seems well within reach, provided the market conditions continue on their upward trajectory.

### FAQ

#### What is Bitfinex’s prediction for the number of crypto users by 2024?
Bitfinex analysts predict that the number of global cryptocurrency owners could reach between 850 and 950 million by 2024.

#### What factors contribute to the projected growth in crypto users?
The anticipated approval of a spot Bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC) is expected to stimulate massive inflows into the market and drive increased adoption of Bitcoin and other cryptocurrencies.

#### Do other industry experts share a similar outlook on crypto user growth?
Yes, other market experts and analysts, including Grayscale CEO Michael Sonnenshein and MicroStrategy’s Michael Saylor, also foresee a potential surge in crypto adoption following the approval of a Bitcoin ETF.

#### How does Bitfinex’s prediction compare to that of Statista?
Bitfinex’s projection closely aligns with Statista’s forecast, which anticipates nearly 833 million crypto users by 2024, with an expectation of reaching 992 million users around 2028.


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