Brian Armstrong: ‘Bitcoin adoption should get to several billion people by 2030 at current rates’

Brian Armstrong, co-founder and CEO of Coinbase, revealed that Bitcoin adoption has the potential to reach several billion people by 2030 at its current rates. Armstrong believes that cryptocurrency adoption will grow much faster than the adoption of the internet and mobile phones.

BlackRock says the digital assets space has hit 300M users in just 12 years. Cryptocurrency adoption has also grown 43% faster than mobile phones and 20% faster than the internet. 

Armstrong believes Bitcoin adoption will increase 

Bitcoin and crypto adoption are scaling faster than the internet itself.

BlackRock’s latest research reveals a staggering fact: crypto adoption has reached 300 million users in just 12 years—43% faster than mobile phones and 20% faster than the internet.

Two powerful visuals… pic.twitter.com/34jksUrbuu

— Russell Sarder (@RussellSarder) February 9, 2025

Brian Armstrong compared BTC adoption to the adoption of the internet and mobile phones in previous years. He is confident that crypto adoption will surpass internet and mobile phone adoption and reach billions of people by 2030.

“It really depends what you count as the official start year – for Bitcoin, Internet, and mobile phones – to make this comparison. But regardless, this is directionally correct. Bitcoin adoption should get to several billion people by 2030 at current rates.”

–Brian Armstrong, CEO of Coinbase.

Mario Nawfal, founder of IBC Group, highlighted that younger generations, inflation fears, and Trump’s pro-crypto stance have fueled the surge in crypto adoption. Nawfal also acknowledged that crypto’s mainstream takeover has accelerated since Bitcoin ETF projections hit $250B in addition to more regulatory wins piling up in the space.

A report by BlackRock revealed that since Bitcoin’s inception in 2009, its pace of adoption has surpassed that of other breakthrough technologies like the internet and mobile phones. Certain global shifts, such as concerns over traditional banking systems, have accentuated Bitcoin’s value as a decentralized asset. The report also highlighted that Bitcoin’s independence from central authorities resonated with investors around the world during uncertain times.

BlackRock suggests reasons for Bitcoin’s rapid adoption

BlackRock noted that the younger generations, often referred to as “digital natives,” were more inclined to embrace BTC compared to Gen X and Baby Boomers. The younger generations’ preference for digital-first solutions has positioned them as the leading demographic in crypto adoption.

The firm also argued that mature crypto infrastructure has accelerated Bitcoin adoption by lowering barriers to entry while creating new use cases. Bitcoin is conforming to become an integral part of the evolving financial ecosystem as the global economy digitizes.

In an interview, Robert Mitchnick, BlackRock’s head of digital assets, also said that Bitcoin adoption is about to take off as institutional players have yet to join the party fully. Mitchnick argued that it is still early days for Bitcoin adoption and that more institutions and wealth advisors will begin gaining exposure to BTC through the iShares Bitcoin Trust (IBIT).

BlackRock and ten other asset managers launched Bitcoin spot ETFs a little over a year ago, with the funds gaining instant traction. The firm’s IBIT became the most successful launch in ETF history, garnering an inflow of $50 billion in record time. 

Mitchnick also added that the company will stick to its year-one strategy, which centered around encouraging its clients about the prospect of holding BTC through IBIT. He believes that many institutions and wealth advisors have not yet started buying Bitcoin and hopes to attract them this year. Mitchnick argued that BTC adoption by institutions and wealth managers requires time, owing to the rigorous due diligence and approval processes. The firm will still remain focused on engaging with them and providing the needed resources and education.

The BlackRock executive also noted that these large-scale investors are starting to come around, especially during the last quarter of 2024. The 13F SEC filing for the previous quarter indicated that 682 unique filers held BlackRock’s IBIT. Sam Callahan also noted that Paragon Advisors disclosed a $12.7 million allocation to IBIT in their 13F Form for last year’s fourth quarter.

The firm also recently launched an iShares BTC ETF in Canada on January 13, which further expanded its reach. BlackRock’s CEO, Nate Geraci, praised the company’s efforts to drive BTC adoption through ETFs and criticized Vanguard for taking a completely opposite approach to Bitcoin.

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