Bitcoin may have about the same number of users today as the Internet had in 1997. What does this mean?
Bitcoin network and the Internet from 1997
Earlier this month she started following social media circulate information that the Bitcoin network currently has as many active users as the Internet had in 1997.
Of course, it is difficult to provide the exact number of users of the main cryptocurrency's blockchain. However, the authors of the above theory assumed that there may be as many or even more people than there were people using the Internet in 1997. This would mean that investors may be slowly running out of time to invest in really cheap bitcoin. Once the popularity of digital currency and its network explodes, it will be too late to jump on this train.
Is this data true?
However, the problem is, as I have already mentioned, accurately estimating the number of BTC users. In January this year Crypto.com cryptocurrency exchange reported that there are 580 million cryptocurrency users around the world. In turn, analysis by Security.org helped us conclude that more than three-quarters admitted to owning Bitcoin or some part of it. So in 2024, the number of Bitcoin users could be around 435 million.
In turn, in 1997, the number of Internet users was much less than 140 million. It was supposed to be only 70 million people.
The year 1997 is important to history for another reason. It was then that Amazon went public. One share could be purchased for USD 18. If you had invested $4,000 to buy the company's stock during the dot-com boom in 1997, you would have had about $7.3 million by last year. For comparison: if you had invested USD 4,000 in the S&P 500 index, as Warren Buffett recommended to investors, you would have had USD 20,800 at your disposal last year.
The above shows how it is worth investing in “risky” assets with high growth potential.
Bitcoin may prove to be a great investment for this very reason: the adoption of blockchain technology is still ongoing. In addition, Wall Street has opened up to cryptocurrency since January – of course, because of ETFs. The process of a new group of investors entering this market will take years, not weeks or months. We can assume that the current boom will not be the last,
The above text does not constitute investment advice.
