This is the 3rd year the University of Cambridge has conducted this study, which began in 2017. Their goal is to track the benchmarks in Bitcoin's growth, and they've watched the number of wallets grow from 45 million to 191 million since the study's first year.
Researchers believe those 191 million addresses equal about 100 million actual people. But it's hard to say how many individuals are behind the number of bitcoin wallets, and as you can see - the University estimates 90% of bitcoin users have more than 1 address.
Generally, the totals the crypto world estimates:
- 100 million Bitcoin Owners
- 400,000 Daily Bitcoin Users
- 200 million Bitcoin Wallets
- 53 million Bitcoin Traders
The study relates global growth to an increase in the number of accounts created at service providers. It is estimated that in the last four years the accounts created have quadrupled. The figure in 2016 was 45 million and in 2018 it was 139 million.
One fact that is striking is that the number of active users remains below the number of accounts generated. From the above it is inferred that each user would have multiple accounts in different types of services.
Regarding the report, Robert Wardrop, director of the Center for Alternative Finance, highlighted that the expansion began in 2018, months after bitcoin reached its highest historical price in the market, and continued to grow "despite the notable headwinds the crypto asset markets have encountered" he explained.
Which is something crypto fans say they've felt - despite the ups and downs, things continue to move forward.
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Author: Ryan Kalbari
Toronto Newsdesk
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