1 out of 256 people in the world has at least $1 in Bitcoin

The crypto market continues to grow considerably, even amid a steady drop in its prices for the past few months. While many fight for wider industry adoption, data shows that there are a large number of people who own at least $1 worth of Bitcoin, which is an incredible thing for the entire industry. According to data acquired by the BitInfoChart website, it indicates that, on August 26, about 35,257,206 addresses had at least US$ 1.00 in Bitcoin, according to blockchain activity statistics. In “direct” numbers this represents the same as 0.4% of the entire world population, which in turn can be translated as 1 person in 226 on the planet owns a fraction of Bitcoin equivalent to at least $1.00, according to the most recent population base (7,970,114,580 inhabitants). It is worth mentioning that this is a considerably “raw” calculation and that it does not consider the fact that one person can control a large amount of addresses, it is just a simplification of the numbers. The truth is that there are far fewer people with Bitcoins and cryptocurrencies in their funds, however, this does not change the sheer amount of Bitcoins purchased and distributed among multiple addresses.

Reasons for Adopting Bitcoin and Cryptocurrencies

The owners of these wallets that hold more than $1 worth of Bitcoin are retail investors who, at the moment, make up the majority of the cryptocurrency market, outnumbering the whales of the network. With this, the increase in retail investors is partially driven by FOMO or, the fear of being left out, in free translation, which is the idea that the person may be missing something important, therefore, they end up buying Bitcoins, even if in small quantities, so as not to take that risk. Part of the driving force behind adoption is the attempt by investors to experience the crypto market, especially at times when fiat money is starting to be less attractive as a form of investment because of different issues, such as inflation. Ownership of such a small amount of Bitcoin can also be attributed to El Salvador’s adoption of the asset as legal tender. The number could increase considering that other South American countries may follow suit if Bitcoin recovers in the future and proves that El Salvador did not throw its economy in the trash. FOMO continues to grow over time and Bitcoin will continue to gain more share of the population, at least in theory.

People follow the search for “1 Bitcoin”

In addition to the information that several people have at least $1.00 in bitcoin, analyst Philip Swift noted that the search for 1 complete coin among investors follows. In a recent analysis, the crypto market analyst recalled that the number of addresses with 1 BTC is approaching 900,000, and should reach 1 million at some point.

“The number of wallets over 1BTC has increased in recent years and is now extremely close to 900k. When 1 million?”