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U.Today - Coinbase (NASDAQ:COIN) CEO Brian Armstrong has waded into the growing conversation around Bitcoin (BTC) adoption in the industry. His commentary came as a response to an update on X by Mario Nawfal regarding crypto adoption. Nawfal hinted that crypto adoption is 43% faster than mobile phones and 20% faster than the internet.
Bitcoin adoption outlook
According to Nawfal, citing BlackRock, crypto has hit 300 million users in just 12 years. As a major note, the update noted that younger generations, inflationary fears and the pro-crypto stance of this current administration in the United States serve as the fuel boosting the surge.The update projected a crypto "mainstream takeover" based on the forecast that Bitcoin ETF products will hit the $250 billion assets under management (AUM) milestone. Bitcoin ETFs have topped $50 billion, led by BlackRock’s iShares Bitcoin Trust (IBIT).
Drawing on this, Brian Armstrong said the forecast depends on what users count as the official year of introduction for Bitcoin, the internet and mobile phones to make this comparison. In essence, he believes the projection from Nawfal is "directionally correct."
The Coinbase CEO said Bitcoin adoption should reach several billion people by 2030 at the current rate.
ETF and meme coins fueling surge
Since the Bitcoin and Ethereum ETFs debuted last year, asset managers have pushed for more. Today, there are filings for an XRP ETF, Solana ETF and even Dogecoin and meme coin ETF proposals.While analysts believe these alternate products are the issuer’s way of pushing regulatory boundaries, it shows how much demand for crypto lies in the market. Beyond this, different crypto networks are turbocharging retail investors with a meme coin pivot.
With a propensity for quick gains, the industry’s maturity has gone parabolic, with close to 10 million tokens launched to date. Coinbase is one of the top trading platforms on the market and plays a huge role in the industry’s growth.