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According to Insider Intelligence's bitcoin industry projection released on Wednesday, roughly 34 million US adults will hold cryptocurrency by the end of 2022. 3.6 million Americans are expected to use cryptocurrencies as a payment method this year, and the number of US adults who hold and pay with cryptocurrency is expected to climb by double digits by 2023, according to the prediction.
It is predicted that there will be more than 25 million Bitcoin users in the US by 2021, an increase of 16.7 percent. The term "owner" refers to a person who has crypto but does not use it for transactions. In 2023, the market share of bitcoin is expected to drop due to the increasing popularity of competitor cryptocurrencies.
Nazmul Islam of Insider Intelligence, a predicting analyst, said that in 2021, "cryptos became easier to acquire within apps people currently use, while large financial institutions adopted crypto investing." "When you combine the ease of access with the buzz around meme stocks like Dogecoin, you get a big increase in ownership rates."
Only adults above the age of 18 were included in the forecast. For the projection, the research and media firms, government agencies, and publicly traded companies are cited by Insider Intelligence as the sources of quantitative and qualitative data.
