Only 0.5% of the world’s population owns Bitcoin, which is every 184th person

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Bitcoin (BTC) is on a steady winning streak that has emerged for the first time since the pandemic period of 2020 with attempts to break out of the bear market. As Bitcoin strives to establish a solid rally, the latest data indicates that the number of individuals likely to own the token is also increasing.

In this line, data acquired by Finbold indicates that as of January 13, the total number of unique Bitcoin holders stood at 43,540,424, according to data from CoinMarketCap.

Seven-day Bitcoin unique holders chart. Source: CoinMarketCap

The number of current Bitcoin holders represents a share of approximately 0.54% of the world’s population of 8,010,885,391 at the time of publication, according to data from Worldometer. Therefore, it can be deduced that every 184 people in the world potentially own Bitcoin.

Additionally, a previous Finbold report from August 2022 highlighted that at the time, every 226th person in the world owned Bitcoin worth between $1 and $99.99. However, it is essential to note that in some cases (as in our previous report), the same individual can own several Bitcoin addresses.

Bitcoin ownership and the bear market

Bitcoin is currently making inroads to exit the bear market after weeks of sideways trading. In 2022, the asset fell to record lows, an area that potentially attracted new investors buying on the downside. In most cases, a price drop presents an opportunity for investors who believe in the future of the young cryptocurrency to accumulate as fear of missing out (FOMO) kicks in.

In recent years, the adoption of Bitcoin has been aided by developing countries where the asset offers tangible benefits, as a possible fix for devalued local currencies. The countries are dominated by significant inflation, with Bitcoin standing out as a likely hedge.

For example, with Bitcoin operating in an environment of high inflation and devaluation of most global currencies, BTC saw an influx of investors who saw the asset as a hedge to profit from arbitrage while being used for trading. efficient transactions, wealth preservation, e-commerce, and remittances. Indeed, crypto proponents argue that these factors are likely to facilitate asset adoption.

Notably, the growing number of Bitcoin holders highlights the state of the first cryptocurrency’s adoption curve. In this line, the ownership changes indicate Bitcoin’s progress towards much sought-after mainstream adoption.

Bitcoin’s potential is further highlighted by a previous Finbold report indicating that the asset’s blockchain accounted for over $8 trillion in transactions in 2022 despite the market depression.

Although there is progress in Bitcoin ownership, the trajectory still encounters several hurdles along the way, which impact investor confidence. Indeed, with the crypto market still facing volatility uncertainty, potential investors will likely remain on the fence. Additionally, regulatory review remains a significant barrier to full adoption of the asset.

bitcoin price analysis

Bitcoin is now targeting the $20,000 position after breaking through key support levels. At press time, BTC was trading at $19,956 with daily gains of over 6%. On the weekly chart, Bitcoin is up 18%.

Elsewhere, the gains came as Bitcoin’s all-time highs increased buying pressure, resulting in a market capitalization of $383.93 billion.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.

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