According to a new report from Crypto.com, global cryptocurrency users could reach a billion by the end of 2022.

A ray of hope has appeared for bruised Bitcoin bulls. Global cryptocurrency users could reach one billion by the end of 2022, according to a promising report from Crypto.com.

The paper concludes that a combination of developing nations following El Salvador's orange-pilled lead and adopting a "friendlier approach" towards the crypto business means that "Nations can no longer afford to ignore the public's growing embrace of crypto."

In 2021, the global cryptocurrency population grew by 178 percent, from 106 million in January to 295 million in December. While 2021 began with Tesla and Mastercard embracing crypto payments and acceptance, BTC growth accelerated in the second half of the year, effectively outpacing Ethereum adoption.

August was a banner month for adoption in the run-up to El Salvador's Bitcoin legal tender law.

Crypto.com believes that "if we assume a similar rate of growth in 2022, we are on track to reach 1 billion crypto users by the end of 2022."

To get there, though, it will take more than one Latin American country adopting Bitcoin and some sensible crypto regulation in the United States.

Fortunately, a recent Fidelity analysis concurs on nation-state acceptance, stating that they "would not be surprised" to see additional governments embrace BTC by 2022. The judgement is still out on the second part of the Crypto.com prediction regarding a more favourable posture towards crypto.

Given the continued rejection of a US Bitcoin ETF and the latest US crypto mining hearing, Crypto.com's predictions are a saving grace. As price action continues to grind lower, the report provides much-needed hope for hodlers.

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