Bitcoin may be entering a new phase of mainstream adoption similar to Facebook’s post-2012 growth, according to Bloomberg ETF analyst Eric Balchunas.
Balchunas said Bitcoin’s loss of its “cool” factor mirrors the period when Facebook expanded rapidly after attracting older users, growing from 1 billion to over 3 billion accounts.
Global Bitcoin holders have increased to around 106 million, up from an estimated 30 to 50 million in 2021, reflecting accelerating adoption trends.
“Bitcoin rn feels like when your parents joined Facebook,”
Said Eric Balchunas, highlighting the shift toward broader, less niche participation.
The launch of spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, has played a key role in onboarding new investors, with roughly 1 million buyers in its first year.
IBIT now holds over 782,000 BTC, representing about 3.9% of total supply, underscoring the growing influence of institutional capital.
The comparison suggests Bitcoin’s transition from niche asset to mainstream financial product could mark the beginning of a larger growth phase rather than the end of its expansion.
At the time of reporting, Bitcoin price was $66,455.49.