According to Eric Balchunas, an ETF analyst at Bloomberg, Bitcoin ($BTC) has entered a stage of adoption reminiscent of Facebook’s journey from 1 billion to 3 billion users.
This analogy suggests that the diminishing counterculture appeal of $BTC should be viewed as a sign of its growth rather than decline, with spot Exchange-Traded Funds (ETFs) serving as the driving force behind its mainstream acceptance.
ETF Specialist Compares Bitcoin’s Current Phase to Facebook’s “Uncool” Era – Is This Bullish?
Balchunas, who is not only Bloomberg Intelligence’s senior ETF analyst but also co-hosts the Trillions podcast, draws parallels between Bitcoin’s present situation and the influx of older generations onto Facebook.
“Bitcoin right now feels akin to when your parents started using Facebook. While it may have lost some ‘coolness’ due to Boomers joining in, it’s important to note that during this time frame, Facebook’s user base surged from around 1 billion to 3 billion,” Balchunas commented.
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Facebook reached a milestone of 1 billion monthly active users in 2012 based on data from Meta. By late 2023, this number had climbed up to approximately 3.07 billion.
The year-over-year growth rates fell below the crucial threshold of 10% after 2013; however, during this seemingly “unexciting” period, the total user count nearly tripled.
Statista chart illustrating Facebook MAU expansion from 2011 through2023 alongside decreasing YoY growth percentages. Source: Statista
The Data Supporting This Comparison
Balchunas also expressed interest in obtaining concrete statistics regarding Bitcoin holder increases over periods spanning three years, five years and ten years. He highlighted that BlackRock reported about one million individuals invested in its iShares Bitcoin Trust (IBIT) within just its first year.
I would really appreciate seeing figures on how many people currently hold bitcoin (including via ETFs) compared with three years ago or even five or ten years back. I know BlackRock mentioned that around one million people purchased IBIT within roughly its first year…
— Eric Balchunas (@EricBalchunas) March29th ,2026
The latest estimates suggest there are around106 million global holders of Bitcoin today—up significantly from an estimated range between30 and50 million back in2021.
The IBIT currently holds782180$BTC, accounting for about3.9%of total supply .
<img decoding=“async”src=“https://cnews24.ru/uploads/e55/e5510926f1f867340a1bad22487c2f4e46b808f3.jpg”alt=“BlackRock IBIT $ BTC Holdings ” >
BlackRock IBIT $ BTC Holdings . Source : BlackRock
Additionally , some macro analysts observe that skeptics continue declaringBitcoin dead ; however , it appears merely atits inception .
It’s amusing how many non-coin enthusiasts tell usBitcoin has perishedand no one cares aboutit anymore
. Yet truthfully,it seems justto be beginning! https : // t.co/dSNoE9aoBi
— LondonCryptoClub (@LDNCryptoClub ) March29th ,2026
A transition occurs whenan asset losesits identity-driven allure while drawing broad passive investment capital; often markingthe onsetofits most significantgrowth phase rather than signalingan end .
CouldBitcoin’sholderbase mirrorFacebook’s climbfromonemilliontowardthree? The trend sinceETF approval certainly indicates such directionality .
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This article originally appeared on BeInCrypto underthe title Analyst SaysBitcoin Just HitThePhaseThatTripledFacebook ’ sUserBase .