Bitcoin, the first and most popular cryptocurrency, has been in existence for over a decade now, and its popularity continues to grow. Many people have invested in bitcoin, hoping to make profits, but what percentage of the population actually owns bitcoin?
According to a recent survey by the global financial services firm, Bank of America, only 2% of Americans own bitcoin. This is a relatively small number compared to other assets, such as stocks and bonds, which have much higher ownership rates. However, it’s important to note that this survey only looked at American residents and not the global population.
In another survey conducted by the UK-based crypto exchange, Ziglu, it was found that 13% of UK adults own cryptocurrency, with bitcoin being the most popular. This is a significant increase compared to the Bank of America survey, but it’s still a relatively small percentage of the overall population.
It’s also important to note that ownership rates vary depending on age and income. According to the Bank of America survey, only 1% of millennials (those born between 1981 and 1996) own bitcoin, while 3% of Gen X (those born between 1965 and 1980) and 4% of baby boomers (those born between 1946 and 1964) own bitcoin. This may be due to the fact that younger generations are more likely to be tech-savvy and comfortable with new technologies such as cryptocurrencies.
When it comes to income, the same survey found that those with higher incomes are more likely to own bitcoin. Only 1% of those earning less than $50,000 a year own bitcoin, while 3% of those earning between $50,000 and $100,000 a year own bitcoin, and 4% of those earning over $100,000 a year own bitcoin. This may be due to the fact that those with higher incomes have more disposable income to invest in assets such as bitcoin.
It’s also worth noting that ownership rates vary depending on geography. According to a recent survey by Statista, the highest percentage of bitcoin owners are in Nigeria, where 32% of the population owns cryptocurrency. This is followed by Vietnam (21%), South Africa (17%), Indonesia (16%), and Turkey (16%). In the United States, only 9% of the population owns cryptocurrency, according to the same survey.
So, what does all of this mean? While the exact percentage of the global population that owns bitcoin is difficult to determine, it’s clear that ownership rates are still relatively low. However, it’s also clear that ownership rates are increasing, particularly among younger generations and those with higher incomes.
The reasons for owning bitcoin vary, but many people see it as a long-term investment and a hedge against inflation. Others simply see it as a way to diversify their investment portfolio and take advantage of the potential upside of a relatively new and volatile asset class.
In conclusion, the percentage of the population that owns bitcoin varies depending on geography, age, and income. While ownership rates are still relatively low, they are increasing, and many people see bitcoin as a long-term investment and a hedge against inflation. As the cryptocurrency market continues to grow and mature, it will be interesting to see how ownership rates change over time.