Crypto Users vs Internet Users Growth Trend

Salahuddin Khawaja

Published: January 31, 2023

Cryptocurrency user growth is following an exponential pattern. Coincidentally, the growth pattern is similar to how the Internet grew in the 90s. The adoption of both the Internet and Cryptocurrency started slow and the rapidly accelerated. The power of network effects – initial users pulled in others.

“Others have performed these analysis”


We wanted to go deeper.

We looked at Internet user growth data (source: Kepios). Internet adoption went from 20 million in 1995 to 300 million in 2000 (average yearly growth of 67%) and then to 917 million by 2005 (average growth of 25%.)

Similarly, we looked at Crypto user growth data (Source:, Crypto adoption went from 20 million in 2017 to 320 million in 2022 (average yearly growth of 82%.) Eerily similar growth when compared to the Internet:

Given how growth was so similar we used the average Internet growth from 2000 to 2005 to forecast Crypto users. Internet users grew from 283 million to 917 million with an annual average of 27%:
By extrapolating the 27% growth – we see crypto growing to 1.05 billion by 2027. And subsequently at a slower clip of 14% to 2 billion by 2032.
If we now compare the two growth patterns we see Crypto following a similar, albeit faster, growth pattern:

So just like Web1/2 was built on the internet – and multibillion platforms and apps where created, we find ourselves at a similar cross roads with multibillion platforms and being built on the blockchain.  

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