Key Points
- Coinbase CEO, Brian Armstrong, predicts billions will use Bitcoin by 2030.
- BlackRock study shows crypto adoption is faster than mobile phone and Internet adoption.
Brian Armstrong, CEO of Coinbase, believes Bitcoin usage will expand to several billion people by 2030. His comments were in response to a post discussing the rapid adoption rate of cryptocurrency.
BlackRock Study on Crypto Adoption
The post Armstrong was responding to cited a BlackRock study. Released in January 2025, the study found that Bitcoin had attracted the attention of both individual and institutional investors at an impressive pace. It emphasized Bitcoin’s growing relevance in a time when public trust in traditional financial institutions is dwindling.
The study also highlighted the global trend towards making digital money more accessible to the masses. It compared the adoption rates of mobile phones and the Internet to that of Bitcoin, stating that Bitcoin reached 300 million users faster than both.
Questionable Methodology
However, some have questioned the methodology used to count Bitcoin users. The BlackRock study did not reveal the source of its Bitcoin user count or the criteria used to define a ‘Bitcoin user’. Other studies, such as one by Chainalysis, suggest that the number of Bitcoin addresses does not necessarily represent the number of Bitcoin users or owners.
A report by BiTBO found that only around 106 million people owned Bitcoin as of 2025. It also noted that Bitcoin is used by a mere 500k people a day, compared to Visa’s 700 million daily transactions.
Bitcoin VS Mobile Phones
Comparing Bitcoin to mobile phones in terms of adoption is challenging. While mobile phones are becoming increasingly affordable, Bitcoin’s price is rising. Additionally, Bitcoin is still viewed by some as a tool for illegal activities, unlike mobile phones.
For Bitcoin to reach the same level of usage as mobile phones, regulators and businesses worldwide would need to make Bitcoin as easy and safe to use as mobile phones. Even countries that have made Bitcoin a legal tender, like El Salvador, have faced challenges in encouraging its widespread use.
Despite these challenges, the bullish stance of governments and corporations on Bitcoin suggests that adoption rates could increase rapidly in the future. However, the existing challenges to widespread Bitcoin usage cannot be overlooked.
