Of the 8 billion people living on the planet, only 43 million own Bitcoin. This equates to less than 1% of him in the population.
Despite the success of Cryptocurrencya negligible number of currents in the world residents According to CoinMarketCap, it retains ownership of Bitcoin.
Any particular reason why this is happening? Or is there something happening in the crypto world that contributes to this current trend?
Confusion Over “Ownership” and “Creation”
Before anyone could access all forms of cryptocurrency online, users had to create their own online wallets for the specific cryptocurrencies they wanted to invest in. The same is true for Bitcoin as a specific blockchain wallet is created for his BTC.
Data chart of BTC wallet address created as of Jan. 2022, source: Blockchain.com
Since January 2022, a total of 85 million BTC wallets unique to each other have been created and recorded by Blockchain.com, one of the world’s leading cryptocurrency blockchain hosting sites.
This is where confusion can arise for those unfamiliar with the difference between creating a cryptocurrency wallet and owning a fixed amount of cryptocurrency on their own.
The unique ownership of the cryptocurrency itself (meaning having at least one BTC in your wallet), despite the fact that 46 million Americans have a share when it comes to BTC investment, Only 43 million people worldwide. Exploding Topics.com.
Current data on Bitcoin (BTC) ownership, source: CoinMarketCap
Lack of confidence in the current crypto market
Around the world (especially in prominent countries such as the United States), more and more people are interested in the power of cryptocurrencies and their market potential, but a lack of confidence is hampering their potential growth..
The recent crypto market crash of 2022 has left many potential investors paranoid about losing money in an uncertain market at the moment.
Add in the fact that some other countries are not ready to fully adapt cryptocurrencies to their economies. Wants to regulate cryptocurrencies if not banned in their country because he sees it as another form of “gambling”.
Speaking on behalf of the RBI, he said the RBI does not consider cryptocurrencies to be viable financial instruments. India today.
in the meantime, Bitcoin It is trading at $20,883.57, up 23.1% over the past seven days, according to Coingecko data.
-Featured image courtesy of Nation of Change