How big is the Bitcoin Technology Market?

The Bitcoin Technology Market size is expected to reach USD 14.75 billion in 2024 and grow at a CAGR of 11.42% to reach USD 25.33 billion by 2029. Read More

What is the current Bitcoin Technology Market size?

In 2024, the Bitcoin Technology Market size is expected to reach USD 14.75 billion. Read More

Who are the key players in Bitcoin Technology Market?

Blockstream Corporation Inc., Coinbase Inc., Coinify ApS, Bitstamp Ltd and Unocoin Technologies Pvt Limited are the major companies operating in the Bitcoin Technology Market. Read More

Which is the fastest growing region in Bitcoin Technology Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Bitcoin Technology Market?

In 2024, the North America accounts for the largest market share in Bitcoin Technology Market. Read More

What years does this Bitcoin Technology Market cover, and what was the market size in 2023?

In 2023, the Bitcoin Technology Market size was estimated at USD 13.07 billion. The report covers the Bitcoin Technology Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bitcoin Technology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Bitcoin Technology Market - Trend, Growth & Industry Analysis

Bitcoin Technology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Includes Global Bitcoin Industry and the Market is Segmented by Service (Exchanges, Remittance Services, Payment & Wallet), End-User Vertical (BFSI, E-Commerce, Media & Entertainment, Hospitality), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The Report Offers the Market Size and Forecasts in USD for all the Above Segments.

Bitcoin Technology Industry Overview

The bitcoin market is fragmented, with emerging startups coming up in recent years that are offering commercial activities related to bitcoin. In the current scenario, most online merchants have started enjoying the anonymity and efficiency of Bitcoin payments, which allows them to cut overhead costs compared to credit or debit card transactions.

In August 2023, PayPal introduced its PayPal USD (PYUSD) stablecoin to some customers in the U.S. as more traditional financial companies offer crypto payment options. A stablecoin is less volatile than popular crypto such as Bitcoin and Ether because they are linked to the value of a fiat currency and are usually backed by the same at a 1:1 ratio. PayPal USD buyers will be able to transfer PayPal USD between PayPal and compatible external wallets, make person-to-person payments using the stablecoin, pay with PayPal USD, and convert any of PayPal’s supported cryptocurrencies to and from the stablecoin.

In April 2022, Blockstream construction has begun on a new solar-powered Bitcoin mining facility. The 3.8 Megawatt (MW) Tesla Solar PV array and 12 megawatt-hours (MWh) Tesla Megapack will power the open-source, solar-powered bitcoin mining facility at a Blockstream Mining site in the United States. This significant development supports the previously announced project between Blockstream and Block Inc.