Bitcoin Has More Users Than The Internet In 1997: Why This Is Bullish

A meme started making its way around crypto Twitter earlier this month, suggesting that Bitcoin now has the number of active users the Internet had in 1997, making the reality even more interesting.

Bitcoin has more users today than Amazon did the year it launched on Wall Street. That means Bitcoin investors may be running out of time to take advantage of stellar market returns due to the boom in user adoption.

Our sources: 70M Internet users 1997 | 435M BTC users by 2024

#Bitcoin has the same number of users as the Internet in 1997.

We're just getting started. pic.twitter.com/ppX1Vc9kZy

— Vivek✓️ (@Vivek4real_) March 23, 2024

The economics of this business are fascinating and promising for investors who realize that even if a billion or five billion more people take Bitcoin, there will never be more than 21 million BTC on the original Satoshi blockchain.

That can be attributed to the dramatic increase in the market value of the digital asset.

#bitcoin 🧡 pic.twitter.com/yiHCQBT6Bi

— Jose⚡️☕️ (@josebitcoiner) March 23, 2024

Bitcoin 2024 with the Internet 1997

In January, crypto exchange Crypto.com reported that there are 580 million crypto users worldwide.

Security.org's annual survey of cryptocurrency owners consistently found that more than three-quarters of owners report owning Bitcoin. So, by 2024 there could be something like 435 million Bitcoin users.

Meanwhile, There were far fewer than 140 million Internet users in 1997. But the year the Miami Marlins won the World Series, 70 million people were online. 1997 was an important year for the Internet for many reasons. One of them was Amazon's IPO at $18.

A fascinating graph of the rate of adoption and rate of adoption of various technologies in America over time. #BTC #RDD #blockchain #first #phone #telegraph #telephony pic.twitter.com/i62FLtM4tA

— Jay “TechAdept” Lawrence (@TechAdeptRDD) February 11, 2023

In the year If you had invested $4,000 in Amazon stock during the Internet dotcom boom in 1997, that would have been worth $7.3 million last year.

But if you had invested in the S&P 500, as Warren Buffett advised investors, you would have had $20,800 to show for it last year. He also warned investors to stay away from Bitcoin and cryptocurrencies and stick to S&P 500 ETFs, which would hurt their returns.

Here's another one telling you to stay away from backing your favorite Internet and computer stocks, AMZN and APPL stocks.

Internet Computing (ICP) 2024 with Amazon 1997

Bitcoin did. Which crypto is next? pic.twitter.com/L4oareHbOu

— Altcoin Daily (@AltcoinDailyio) March 26, 2024

Internet Computer recently crossed $17 per Network Token on Friday, March 29th. With a market value of more than $8.5 billion on Tuesday, the Internet's decentralized cloud rivals Amazon's $1.8 trillion cloud computing business.

According to a CNBC report, “Analysts say Marketplace could generate between $1 billion and $2 billion in revenue, which would account for 3 percent of AWS's total 2020 revenue. Internet computing hosts cloud services through its own network devices built on various levels of the ICP blockchain.