New Report Found that Only 4% of the Global Populations Hold a Bitcoin

According to a new report from a BTC financial services company called River, only 4% of the world population holds a Bitcoin despite its growing popularity. In the US, 14% of the individuals hold a Bitcoin, which makes America the top country with the highest concentration of Bitcoin ownership. America also has the highest adoption rate for Bitcoin currency, while the country with the lowest adoption rate for Bitcoin is Africa at 1.6%. The study also highlights that Bitcoin constitutes 0.2% of global wealth. Its total addressable market is estimated at $225 trillion, assuming it captures 50% of store-of-value assets.

The report by River says that Bitcoin has only achieved 3% of its maximum adoption potential, which means that its adoption is still at early stages. Developed countries are more open to using Bitcoins than developing countries. The 3% metric was calculated by analyzing individual as well as institutional ownership. Bitcoin also became a US government reserve asset, but there are still a lot of hurdles that are on the way of Bitcoin mass adoption globally.

The things which are stopping Bitcoin’s mass adoption are technical and financial education. There are a lot of misconceptions about Bitcoin and most people think of it as a Ponzi Scheme or scam. Digital currencies are highly volatile, which is good for short-term traders but isn't that good for daily transactions. The high volatility rates affect the developing countries the hardest, and they have to turn to the US dollar stablecoins for lower transaction fees and stability.

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by Arooj Ahmed via Digital Information World