BTC payments market expected to grow to $4.82 trillion by 2032

"The bitcoin payments market is expected to grow to $4.82 trillion by 2032," says a report released today by Indian market research firm Spherical Insights, according to cryptocurrency media watcher WatchGuru. "The bitcoin payments market was valued at $1.76 trillion in 2022 and is estimated to grow to $4.82 trillion by 2032, representing a CAGR of 16.19%. The growth of the bitcoin payments ecosystem is expected to be positively influenced by the growth of the exchange market and the increase of BTC payments in the e-commerce industry outside of regulated jurisdictions. However, new technologies such as KYC and compliance will be required for financial institutions such as major banks to accept BTC as a payment method. Rapid price volatility may also hinder the global adoption of bitcoin payments.