Cryptocurrency analyst Willy Woo highlighted on Monday that Bitcoin (CRYPTO: BTC) has higher global adoption than the S&P500 and gold.
Bitcoin’s Growing Adoption
Woo stated in an X post that roughly 5% of the world population owns Bitcoin, comparable to 4% for the S&P 500 and approximately 4.5% for gold.
Woo said they used “credible” surveys of Bitcoin adoption, such as Glassnode’s on-chain data and Crypto.com reports, and fitted them into an S-curve adoption model.
The analyst said that at the current levels, Bitcoin is “no more than a financial asset,” while arguing that if it reaches 50% adoption, that’d mean “separation of money and state.”
People in the replies weren’t buying it, though. They pointed out that way more folks have exposure to stocks than to Bitcoin.
“The trick is to understand 4-5% of the world use SPX+Gold as an investment, while BTC is also used to solve a monetary problem – especially where capital controls or hyperinflation exists,” Woo said.
Which Country is Leading BTC Adoption?
Woo also posted a table ranking countries by BTC ownership rates and implied owner numbers, with estimated worldwide adoption at 4.5%-6% or roughly 370-500 million people.
With 68 million holders, India led the world in absolute Bitcoin ownership, even though this represented only 4.6% of the population.
Notably, the dollar has gained more than 30% in value against the Indian rupee over the past five years.
The U.S. had an ownership rate of 14%, representing 50 million owners. while Vietnam recorded the highest penetration rate at 17%.
Curiously, China, despite enforcing a blanket ban on cryptocurrency trading and mining, still has 33 million people holding BTC, representing 2.3% of its population.
Price Action: At the time of writing, BTC was exchanging hands at $77,438.44, down 1.47% in the last 24 hours, according to data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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