The bitcoin cryptocurrency system will have nearly 5 million active users by 2019, but it will still remain a niche marketplace, according to new research.
Although several big-name retailers have begun accepting the fledgling digital currency, its user base and transaction volume will only see modest gains, a report released Tuesday by market insight firm Juniper Research predicted. Because of relatively slow consumer adoption, the report, The Future of Cryptocurrency: Bitcoin & Altcoin Impact & Opportunities 2015-2019, advised retailers to not bother with the technology.
"To my mind there are far more pressing needs for the retailers, there are so many other payment options emerging," Windsor Holden, head of forecasting and consultancy at Juniper, told CNBC. "It's not a key differentiator for a retailer that you offer bitcoin—it's not going to be a unique selling point."