Bitcoin

Bitcoin

Global Bitcoin Market to Reach US$125.6 Billion by 2030

The global market for Bitcoin estimated at US$32.6 Billion in the year 2024, is expected to reach US$125.6 Billion by 2030, growing at a CAGR of 25.2% over the analysis period 2024-2030. Exchanges Application, one of the segments analyzed in the report, is expected to record a 25.5% CAGR and reach US$60.0 Billion by the end of the analysis period. Growth in the Payment & Wallet Application segment is estimated at 27.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$8.6 Billion While China is Forecast to Grow at 23.9% CAGR

The Bitcoin market in the U.S. is estimated at US$8.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$19.1 Billion by the year 2030 trailing a CAGR of 23.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 23.0% and 21.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 17.4% CAGR.

Global Bitcoin Market - Key Trends & Drivers Summarized

How Is Institutional Adoption Transforming the Bitcoin Market?

The increasing adoption of Bitcoin by institutional investors is significantly transforming the cryptocurrency landscape. Over the past few years, financial institutions, hedge funds, and large corporations have entered the Bitcoin market, seeking diversification and hedging opportunities against inflation. Major companies have started holding Bitcoin as part of their treasury reserves, recognizing its potential as a store of value comparable to gold. Moreover, institutional-grade investment vehicles such as Bitcoin ETFs, futures, and custodial services have made it easier for professional investors to participate in the market, driving liquidity and stability.

Regulatory clarity in certain regions has further encouraged institutions to integrate Bitcoin into their portfolios. For instance, jurisdictions that classify Bitcoin as a digital asset or legalize its use in payments provide a conducive environment for large-scale adoption. Additionally, the increasing involvement of fintech firms in offering Bitcoin-related services, such as payment gateways and trading platforms, is streamlining access for institutional players. These developments are not only expanding Bitcoin’s user base but also solidifying its role as a mainstream financial asset.

Why Is Bitcoin Emerging as a Preferred Cross-Border Payment Solution?

Bitcoin’s ability to facilitate fast, low-cost, and secure cross-border transactions has positioned it as a preferred solution for global payments. Traditional methods of transferring money across borders, such as wire transfers, are often expensive and time-consuming due to the involvement of intermediaries. Bitcoin eliminates these inefficiencies by enabling direct peer-to-peer transactions on a decentralized network, regardless of geographic location. This capability has proven particularly valuable for individuals and businesses in regions with limited access to traditional banking infrastructure.

The adoption of Bitcoin for remittances has seen substantial growth, driven by the increasing availability of cryptocurrency exchange platforms and wallet services. Additionally, Bitcoin’s transparency and immutability are addressing concerns related to fraud and corruption in cross-border payments. Companies involved in international trade are also leveraging Bitcoin to bypass currency conversion fees and hedge against exchange rate volatility. As the global economy becomes more interconnected, the demand for efficient and cost-effective payment solutions like Bitcoin is expected to rise.

How Are Technological Advancements Boosting Bitcoin Adoption?

Technological advancements are playing a critical role in boosting Bitcoin adoption by enhancing its scalability, security, and usability. The implementation of the Lightning Network, a layer-2 solution, has significantly improved Bitcoin’s transaction speed and reduced fees, making it more practical for everyday use. This technology enables microtransactions and opens up new use cases, such as instant payments for digital content and in-game purchases.

Moreover, advancements in blockchain interoperability are enabling Bitcoin to interact with other blockchain networks, broadening its utility across decentralized finance (DeFi) ecosystems. Wallet providers are also enhancing user experience by integrating features like multi-signature security, biometric authentication, and seamless integration with decentralized applications (dApps). These innovations are making Bitcoin more accessible and appealing to a wider audience, from individual users to enterprise clients. As these technological improvements continue, they are expected to drive further adoption and expand Bitcoin’s role in the digital economy.

What Factors Are Driving the Growth of the Bitcoin Market?

The growth in the Bitcoin market is driven by several factors, including increasing institutional adoption, growing demand for cross-border payment solutions, and advancements in blockchain technology. The expanding use of Bitcoin as a hedge against inflation and economic uncertainty has attracted a diverse range of investors, from retail traders to multinational corporations. The rising acceptance of Bitcoin by merchants and service providers, combined with the integration of Bitcoin payment options into mainstream platforms, is further accelerating its adoption.

Consumer behavior is also playing a crucial role, with younger, tech-savvy demographics driving interest in Bitcoin as a long-term investment and medium of exchange. Regulatory developments in key markets are creating a more favorable environment for Bitcoin transactions, boosting confidence among users and investors alike. Additionally, the increasing focus on financial inclusion in developing regions is propelling Bitcoin adoption, as it offers a decentralized alternative to traditional banking systems. These factors collectively underscore the robust growth trajectory of the global Bitcoin market.

SCOPE OF STUDY:

The report analyzes the Bitcoin market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Application (Exchanges Application, Payment & Wallet Application, Remittance Services Application); End-Use (BFSI End-Use, E-Commerce End-Use, Media & Entertainment End-Use, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 22 Featured) -

• Antpool
• Binance Holdings Limited
• Bitcoin Group SE
• BitDeer
• Bitfarms
• BitMain Technologies Holding Company
• Blockstream Corp
• Cipher Mining Technologies Inc.
• CleanSpark Inc.
• CoinGate

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.