BlackRock Compares Bitcoin Adoption Rate to Other Technologies

Since Bitcoin’s launch in 2009, its rate of adoption has surpassed that of the internet and mobile phones, according to BlackRock.

• Reaching 300 million users took Bitcoin about 12 years.
• By comparison, the internet needed 15 years, while mobile phones took 21.

Key Factors Behind Bitcoin’s Rapid Growth

1. Demographics: Younger generations—often described as “digitally native”—have been more inclined to embrace Bitcoin compared to Gen X and baby boomers.
2. Global Shifts: Heightened inflationary concerns, worldwide political disagreements, and banking/fiscal challenges have driven interest in alternatives like Bitcoin.
3. Transformation of the Financial System: Lower barriers to entry and new use cases have made “digital gold” more accessible to a broader audience.

Bitcoin ETFs
BlackRock points out that the advent of Bitcoin exchange-traded funds (ETFs) represents a critical milestone for both crypto and traditional markets, providing easier access to the asset.

Context

• Earlier, CF Benchmarks analysts suggested that by 2025, investment advisors could increase their positions in digital gold and Ethereum-based ETFs by more than 50%.
• In 2024, BTC-ETF issuers and publicly traded companies collectively acquired 859,454 BTC—equivalent to 4.3% of Bitcoin’s circulating supply—matching eight years’ worth of mining output, according to K33 Research.