Only 4% of People on Earth Own Bitcoin, New Report Finds

Only four per cent (4%) of people on Earth own Bitcoin according to a new report from Bitcoin analytics firm, River Financial.

Only four per cent (4%) of people on Earth own Bitcoin according to a new report from Bitcoin analytics firm, River Financial.

The report, which is titled ‘Bitcoin: A New Narrative for the Next Chapter in Human History’, also found that ownership rates vary significantly from region to region, with North America having the highest ownership rate of 14% and Africa having the lowest at around 1%. It was generally found that Bitcoin ownership is higher in regions that are more economically developed.

The report suggests that what it refers to as ‘Bitcoin adoption’ is at only around 3% of its maximum potential – this figure not just takes into account individual ownership rates, but also considers Bitcoin’s market share compared to its total addressable market (TAM) and the level of institutional investment. It predicts that Bitcoin adoption is set to accelerate as more of the global population gain access to digital assets and institutions and nation states ramp up their adoption.

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“Bitcoin Adoption Is Just Beginning”, Claims Report

River Financial believes there’s still “significant room for adoption” of Bitcoin by individuals. They attribute the relatively low rate of individual ownership to a number of factors, explaining that those yet to FOMO into Bitcoin “may lack sufficient knowledge about Bitcoin’s value proposition or access to trustworthy bitcoin on-ramps and custodians”.

In terms of Bitcoin’s overall adoption, the firm’s report likens its current state to that of the internet in 1990 or social media in 2005.

The report claims the OG cryptocurrency has achieved less than 1% of its potential total addressable market, which it (perhaps optimistically) claims is 50% of total global store of value assets – an estimated value of US$225 trillion (Bitcoin currently has a market cap of around US$1.5 trillion).

The report also claims that institutions are massively under-invested in Bitcoin – pointing out that US investment advisors currently only have “net bitcoin allocation” of 0.006%, while Bitcoin’s market cap currently represents 0.2% of the world’s wealth.

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Overall the report argues that we’re still very much in the early stages of Bitcoin adoption and we’re likely to see adoption accelerate significantly over the next few years driven not only by improved accessibility and education for individuals but also by large-scale adoption by institutions and nation-states.