Back in early 2020, on-chain analyst Willy Woo commented that crypto adoption is comparable to that of the internet. In that, things start off slowly, but over time, crypto adoption will explode.
Woo said mass crypto adoption isnât here yet, nor do the masses see it happening because human perception tends to process information linearly.
âHuman nature is one that looks at things in a linear stance. So weâre not very good at looking at exponential growth, which is obviously what bitcoin is doing.â
Current estimates on the number of crypto users vary. While Davies puts the figure at 200 million, or about 2.5% of the global population, research conducted by blockchain solutions firm Triple-A puts the number of users at 300 million, or just under 4% of the worldwide population.
On the question of why mass crypto adoption isnât here yet, Woo said asking that is the equivalent of an internet user in 1994 asking why no one uses the internet. In other words, adoption is happening right now.