The global bitcoin market size is expected to reach USD 132.91 billion by 2030, growing at a CAGR of 26.2% from 2022 to 2030, according to this study conducted. The growing acceptance of cryptocurrencies globally, owing to the numerous advantages associated with them, such as decentralization and ease of exchange, is expected to drive the bitcoin market over the forecast period. Additionally, the payment service providers' significant emphasis on delivering better payment solutions promotes the industry’s expansion.
Market players are investing in new and innovative product development to establish the Bitcoin market. For instance, in June 2022, Proshares, an issuer of Exchange-Traded Funds (ETFs), introduced the first ever short Bitcoin-linked ETF. It is specifically designed to help investors profit from price dips in cryptocurrency.
Several crypto exchanges are expanding their operational reach to grab the opportunity to capture the growing market of Bitcoin and cryptocurrency. For instance, in March 2022, Coinbase planned to expand its footprint in European markets, which is in line with the two-pronged growth strategy.
In 2020, the COVID-19 pandemic led to the global economic crisis, which significantly contributed to the growth of the bitcoin market. The outbreak led to a financial crisis, which resulted in currency devaluation. On the other hand, a spike in Bitcoin trading volume was observed during the significant currency devaluation. In times of crisis, residents shift to safe assets, and the Bitcoin trade picks up.
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Market players are investing in new and innovative product development to establish the Bitcoin market. For instance, in June 2022, Proshares, an issuer of Exchange-Traded Funds (ETFs), introduced the first ever short Bitcoin-linked ETF. It is specifically designed to help investors profit from price dips in cryptocurrency.
Several crypto exchanges are expanding their operational reach to grab the opportunity to capture the growing market of Bitcoin and cryptocurrency. For instance, in March 2022, Coinbase planned to expand its footprint in European markets, which is in line with the two-pronged growth strategy.
In 2020, the COVID-19 pandemic led to the global economic crisis, which significantly contributed to the growth of the bitcoin market. The outbreak led to a financial crisis, which resulted in currency devaluation. On the other hand, a spike in Bitcoin trading volume was observed during the significant currency devaluation. In times of crisis, residents shift to safe assets, and the Bitcoin trade picks up.
Bitcoin Market Report Highlights
- The exchange segment is expected to dominate over the forecast period owing to the large volumes traded on the exchanges every day and the growing popularity of bitcoin as an alternative investment option
- The BFSI segment is anticipated to dominate the market over the forecast period. The rapid adoption of cryptocurrencies among financial institutions owing to the unique opportunities such as the revolution in payment services is expected to drive growth
- The Asia Pacific regional market is expected to witness the fastest CAGR over the forecast period. The growing prevalence of crypto-based startups and decentralized finance (Defi) projects in countries such as Singapore and the Philippines is expected to boost the regional growth
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Report Attribute | Details |
---|---|
No. of Pages | 130 |
Published | August 2022 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD
| USD 20.63 Billion |
Forecasted Market Value ( USD
| USD 132.91 Billion |
Compound Annual Growth Rate | 26.2% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |
Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Bitcoin Industry Outlook
Chapter 4 Investment Landscape Analysis
Chapter 5 Bitcoin Application Outlook
Chapter 6 Bitcoin End-use Outlook
Chapter 7 Bitcoin Regional Outlook
Chapter 8 Competitive Analysis
Chapter 9 Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Blockstream Corporation Inc.
- Coinbase Inc.
- Coinfy ApS
- Unocoin Technologies Pvt Limited.
- Bitstamp Ltd.
- itBit Trust Company LLC
- Blockchain Luxembourg SA
- Kraken (Payward Inc.)
- BitPay Inc.
- Plutus Financial Inc. (ABRA)
Methodology
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