Analyst Says Bitcoin Just Hit the Phase That Tripled Facebook’s User Base
An analyst compares Bitcoin's current adoption phase to Facebook's growth from 1 to 3 billion users, suggesting mainstream entry via ETFs signals maturation, not decline.Summary
Bloomberg ETF analyst Eric Balchunas argues that Bitcoin (BTC) is entering a phase similar to Facebook’s period of explosive growth, specifically when Facebook transitioned from being a platform primarily used by younger demographics to attracting a broader user base, including older generations. Balchunas notes that while Bitcoin may be losing some of its “cool” factor, this parallels Facebook’s experience and doesn’t indicate a decline. In fact, Facebook’s user base tripled from 1 billion to 3 billion after this shift. The launch of spot Bitcoin ETFs is seen as the catalyst for this mainstream adoption, with BlackRock’s IBIT alone attracting 1 million buyers in its first year. Current estimates place the number of Bitcoin holders at approximately 106 million, up from 30-50 million in 2021. The analogy suggests that Bitcoin’s largest growth phase may be just beginning, despite claims of its demise.
(Source：BeInCrypto)