0.4% of the world’s population owns at least $1 in bitcoin

The adoption of bitcoin (BTC) and other cryptocurrencies is progressing almost every day and that means that more and more people around the world are coming into contact with the crypto industry. According to BitinfoCharts there are currently 35,527,206 wallets that have at least $1 worth of bitcoin on their balance sheet. That corresponds to 0.4% of the total world population.

Bitcoin is being embraced on a large scale

Despite various obstacles, the crypto market seems to be climbing further and further. There is a clear progress in the amount of people who invest and use bitcoin. At the moment, 1 in 226 people already own bitcoin.

An important note is that some bitcoin investors can have more than 1 wallet. The BitinfoCharts comparison is therefore not 100% accurate, but it nicely sketches the imagination.

What are the drivers of bitcoin adoption?

Bitcoin investors are often still waiting for the start of actual mass adoption. That would be the moment when using and owning bitcoin becomes as normal as owning euros or dollars, for example. Should that happen, there is a good chance that the price of bitcoin will be catapulted to astronomical heights.

But what is needed before we can speak of such mass adoption? First of all, it would mean that the regulatory uncertainty must be removed. Currently, financial regulators such as the US Securities and Exchange Commission (SEC), not quite sure what to do with the crypto market yet.

This means that many financial institutions such as banks, insurers and pension funds prefer to remain on the sidelines for a while.

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In addition, the great volatility many traditional investors prefer to put their money elsewhere, such as in precious metals or real estate. Should issues such as the regulatory issue and volatility be resolved, there is a chance that the percentage quoted by Bitinfocharts will increase at a rapid pace.

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