Bitcoin has seen a surge in popularity over the past few years. As the first and most well-known cryptocurrency, Bitcoin has become a household name. With its price skyrocketing to new highs and its adoption by major companies like Tesla, more and more people are becoming interested in owning Bitcoin. But how many people actually own Bitcoin today? Let’s take a deeper look.
Bitcoin Ownership Statistics
According to the latest estimates, there are around 300 million Bitcoin users worldwide as of 2023. However, the number of people who own a full Bitcoin is much smaller.
Number of Bitcoin Addresses
One way to estimate Bitcoin ownership is to look at the number of unique Bitcoin addresses. There are currently around 892 million unique Bitcoin addresses according to Bitinfocharts. However, many people own multiple Bitcoin addresses, while some addresses are controlled by exchanges and services. So the number of unique addresses overestimates the number of Bitcoin owners.
Percentage of Bitcoin Owners
Surveys of Bitcoin ownership provide a more direct approach. A survey by Finder in 2022 found that 17% of Americans own Bitcoin, equaling around 40 million people. Extrapolating that percentage worldwide gives us around 252 million Bitcoin owners globally. However, Bitcoin ownership is not evenly distributed, so this is likely still an overestimate. Other polls have found ownership rates closer to 10%.
Distribution of Bitcoin
Analyzing the distribution of Bitcoin provides another perspective. According to Bitinfocharts, around 16 million Bitcoin addresses hold at least 0.01 BTC. Assuming one person per address gives us an estimate of 16 million Bitcoin holders. However, again, many people own multiple addresses.
Glassnode estimates there are about 1 million Bitcoin addresses with a balance of 0.1 BTC or more. There are likely even fewer people holding a full Bitcoin or more. By one estimate, only around 2-3 million people worldwide hold the equivalent of one Bitcoin or more.
Number of Bitcoin Owners by Region
Bitcoin ownership varies widely by country and region. In general, ownership is higher in more affluent countries and regions with greater technology adoption.
North America
As mentioned earlier, around 17% of Americans own Bitcoin, equaling over 40 million people. Bitcoin ownership is also significant in Canada, estimated at around 15% of the population or 5 million people. Combining the US and Canada gives us around 45 million Bitcoin owners in North America.
Europe
Across Europe, Bitcoin ownership ranges from 10-20% in most countries. Extrapolating survey data gives us around 50 million Bitcoin owners across Europe. Countries like Switzerland, Norway, and the Netherlands have particularly high ownership rates.
Asia-Pacific
In Asia Pacific, Vietnam, Malaysia, Hong Kong, and Singapore have the highest ownership rates, with over 20% owning Bitcoin in some surveys. India and China have large overall ownership due to their huge populations, but ownership rates are below 10%. Overall, Asia likely has around 50-60 million Bitcoin owners.
Latin America and Africa
Surveys show Latin America has quickly embraced Bitcoin, with countries like Brazil, Argentina, and Venezuela seeing ownership rates comparable to the US. Africa remains more limited, but countries like South Africa and Nigeria are seeing rising adoption. We can estimate around 30 million Bitcoin owners combined in these regions.
Bitcoin Ownership Demographics
In addition to geography, certain demographic groups are more likely to own Bitcoin.
Gender
Most surveys show Bitcoin ownership skews male, with over two-thirds of owners being male globally. This gender disparity is present in almost every country but is less pronounced among younger demographics.
Age
Bitcoin ownership also skews younger, with Millennials and Generation Z significantly overrepresented among Bitcoin holders. For example, around 28% of US Millennials own Bitcoin compared to just 4% of Baby Boomers according to Finder.com.
Income and Wealth
Perhaps not surprisingly, Bitcoin ownership rises dramatically with income and wealth brackets. For example, 24% of Americans earning over $100K own Bitcoin vs. just 7% of those earning under $35K according to CNBC. The same trend holds globally, with Bitcoin mainly owned among the affluent.
Tech Savviness
Due to its technical complexity, Bitcoin ownership is also higher among those with greater technology skills and awareness. Tech-savvy groups like programmers and IT professionals have significantly higher ownership rates in many countries.
How Many New Bitcoin Owners Per Year?
In addition to looking at the current number of Bitcoin owners, it’s instructive to examine the growth rate. The number of Bitcoin owners worldwide has increased rapidly, especially since 2020.
Surveys show an average of around 58 million people worldwide bought Bitcoin for the first time in 2021. That’s compared to just 17 million new owners in 2020. This represents over 150% year-over-year growth in new Bitcoiners globally.
If this growth continues, we can expect over 100 million more people worldwide to become new Bitcoin owners in 2022. That would bring the total number of Bitcoin owners to over 300 million globally by the end of 2022.
Challenges in Measuring Bitcoin Ownership
While the methodologies above provide estimates, accurately measuring global Bitcoin ownership faces challenges:
– Bitcoin addresses can be misleading proxies for owners, as many owners have multiple addresses while exchanges and services control large numbers of addresses.
– Surveys have inconsistent findings and may over or underrepresent certain groups like wealthier or more tech-savvy owners.
– Regional and demographic extrapolation from limited surveys may overlook unique conditions in certain countries.
– Self-reported ownership could be inaccurate in countries where Bitcoin is illegal or socially discouraged.
– Ownership data becomes outdated quickly with Bitcoin’s rapid growth.
Factors Influencing Bitcoin Ownership
Many socioeconomic factors likely influence Bitcoin ownership rates globally, including:
– Economic conditions like hyperinflation and financial instability increase incentive to adopt Bitcoin as an alternative asset.
– Regulatory environments that are open to cryptocurrency have higher ownership rates. Countries banning Bitcoin see limited adoption.
– Higher internet and smartphone penetration facilitates access to cryptocurrency. Geographic remoteness can be a barrier.
– Greater affluence and prevalence of high-net-worth individuals increases propensity for investment in alternative assets like Bitcoin.
– Demographic trends like age and gender determine who is most likely to be early adopters of new technologies like cryptocurrency.
– Macro trends in digital payments, ecommerce, and technology adoption affect Bitcoin uptake.
Future Bitcoin Adoption Projections
Most experts predict Bitcoin adoption and ownership rates will continue rising in coming years. Here are some predictions on future Bitcoin ownership growth:
– A Finder survey of panelists found expectations for over 1 billion people worldwide to own Bitcoin by the end of 2030.
– ARK Invest predicts over 5 billion people will own Bitcoin wallets by 2030, equal to over 60% of the projected global population.
– A Citibank report predicted as many as 300 million Bitcoin owners by 2030 based on approximately 30% compounded growth each year.
– Bloomberg analysts estimate Bitcoin will reach a global penetration comparable to the US dollar by 2050, implying billions of global owners.
However, limitations like regulatory hurdles, access barriers, and technology gaps could constrain the growth in Bitcoin ownership below some of these optimistic projections. Realistically, if current growth trends continue, we can expect around 500 million to 1 billion Bitcoin owners globally by 2030.
Conclusion
While exact numbers are difficult to pin down, most estimates place global Bitcoin ownership in the hundreds of millions as of 2023. Leading countries for ownership include the US, countries in Europe, and affluent Asia Pacific nations. Ownership also skews towards men, younger generations, wealthier individuals, and those with high technology engagement.
With strong growth momentum, the number of global Bitcoin owners could realistically reach 500 million to 1 billion people by the end of this decade. This would make Bitcoin ownership truly mainstream. However, limitations around regulation, access, and user-friendliness could constrain Bitcoin adoption below the more optimistic scenarios envisioned by some analysts. Going forward, it will be fascinating to watch as Bitcoin continues its journey from an obscure digital asset to a global phenomenon owned by a substantial share of the world’s population.