Earlier this month, a meme began circulating on crypto Twitter stating that Bitcoin now has as many active users as the Internet had in 1997. But the reality is more interesting:
There are likely more Bitcoin users today than there were internet users when Amazon debuted on Wall Street. This means that Bitcoin investors may be running out of time to take advantage of the superior market returns from increased user adoption.
Our sources: 70 million Internet users in 1997 | 435 million Bitcoin users in 2024
#bitcoin It has the same number of users as the Internet had in 1997.
We are just getting started. pic.twitter.com/ppX1Vc9kZy
—Vivek✓️ (@Vivek4real_) March 23, 2024
The economics of this trade are fascinating and promising for investors, who note that even if 1 billion or 5 billion more people adopted Bitcoin, the number of BTC held on the original Satoshi blockchain would still not be the same. will exceed 21 million.
This may be related to the significant increase in the market value of digital assets.
#bitcoin 🧡 pic.twitter.com/yiHCQBT6Bi
— Jose ⚡️☕️ (@josebitcoiner) March 23, 2024
Bitcoin in 2024 and the Internet in 1997
In January, cryptocurrency exchange Crypto.com reported that there were 580 million cryptocurrency users worldwide.
Security.org’s annual survey of cryptocurrency owners consistently found that more than three-quarters of owners said they own Bitcoin. Therefore, by 2024, Bitcoin users may reach 435 million.
Meanwhile, there were actually far fewer than 140 million Internet users in 1997. However, the year the Miami Marlins won the World Series, 70 million people came online. 1997 was an important year for the Internet for many reasons. One of them was Amazon’s IPO at $18.
a fascinating chart #use Speed and arc using various techniques #technology Over time in the United States. #BTC #RDD #blockchain #start #Telephone #telegraph #phonemoney pic.twitter.com/i62FLtM4tA
— Jay “TechAdept” Lawrence (@TechAdeptRDD) February 11, 2023
If you invested $4,000 in Amazon stock during the dot-com bubble in 1997, that money would be worth about $7.3 million by last year.
But if you invested it in the S&P 500, as Warren Buffett recommends to investors, you would have gained $20,800 last year. He also warned investors to stay away from Bitcoin and cryptocurrencies and stuck with the S&P 500 ETF, which largely hurt its returns.
He’ll tell you to stay away from AMZN and APPL, his favorite Internet and computer companies.
Internet Computing (ICP) 2024 vs. Amazon 1997
Bitcoin did it. Which cryptocurrency is next? pic.twitter.com/L4oareHbOu
—AltcoinDailyio (@AltcoinDailyio) March 26, 2024
Most recently, Internet Computer’s price per network token topped $17 on Friday, March 29. Internet Computer’s market capitalization exceeded $8.5 billion on Tuesday, and its decentralized cloud rivals Amazon’s $1.8 trillion cloud computing business.
According to CNBC, “Analysts said Marketplace could bring in $1 billion to $2 billion in revenue, accounting for 3% of AWS’s total revenue in 2020.” Internet computers host cloud services on their own network of devices, which Built according to various ICP blockchain standards.
Limited time offer for Bybit CryptoPotato readers in 2024: Use this link to register for free on Bybit Exchange and open a $500 BTC-USDT position!