A deep dive into the growing adoption of Bitcoin, its usage patterns, and the key data points that shape the cryptocurrency landscape in 2024.
How Many People Hold Bitcoin in 2024? Unveiling Global Trends and Adoption
Exploring the Rise of Bitcoin Holders and How It’s Shaping the Global Economy
How many people truly hold Bitcoin today? Is it just a handful of investors, or has the cryptocurrency become a global phenomenon? With Bitcoin’s remarkable journey over the past decade, these questions continue to stir curiosity. From tech enthusiasts to individuals seeking financial independence, the adoption of Bitcoin is growing. But, how many of us really own Bitcoin? And what do the numbers tell us about its global usage in 2024? Let’s dive deeper into the data and uncover what’s happening with Bitcoin ownership worldwide.
Key Takeaways
Global Bitcoin Adoption: Over 547,000 active Bitcoin wallets are used daily, with 730,000 transactions taking place each day across the network.Bitcoin Wallets: There are more than 1.3 billion Bitcoin wallet addresses with transaction history, showing the extensive use and demand for Bitcoin.Dormant Wallets: 1.75 million Bitcoin wallets have been inactive for more than a decade, highlighting the risk of lost access.High Inflation Countries: Bitcoin adoption is significant in countries facing inflation, with Turkey (19.3%), Argentina (18.9%), and Brazil (17.4%) showing high cryptocurrency ownership.Bitcoin Wealth Distribution: A large proportion of Bitcoin wealth is held by a small number of wealthy addresses, with many wallets holding over 1 BTC.Photo by Traxer on Unsplash
How Many People Hold Bitcoin in 2024? 🪙
Bitcoin continues to grow as a prominent player in the global financial system, yet questions about how many people hold and actively use Bitcoin remain essential to understanding its adoption. As the crypto ecosystem expands, both in use and value, it’s crucial to examine the numbers, trends, and challenges behind Bitcoin ownership in 2024.
In this post, we’ll delve into the most up-to-date data and explore how Bitcoin adoption is shaping up globally, especially in countries with high inflation, and discuss the complexities of measuring Bitcoin ownership and activity.
The Challenge of Estimating Bitcoin Holders 🧐
Understanding how many people own Bitcoin isn’t straightforward. Bitcoin wallets, unlike traditional accounts, can hold multiple addresses controlled by the same person. While services like Bitinfocharts and Dune Analytics provide useful data on Bitcoin wallet activity, the true number of Bitcoin holders can be elusive due to the nature of cryptocurrency.
While there are estimates of the number of active wallets or transactions, these do not directly translate into the number of people who hold Bitcoin. For instance, the 1.3 billion Bitcoin wallet addresses with transaction histories don’t necessarily mean that 1.3 billion people hold Bitcoin, as many users have multiple addresses for privacy and security purposes.
So, what can we actually say about the number of people holding Bitcoin in 2024?
Bitcoin Usage and Ownership Data 📊
Recent data from Glassnode and other sources suggests that as of 2024, over 547,000 Bitcoin wallets are active daily, contributing to a total of over 730,000 Bitcoin transactions in a 24-hour period. Additionally, Bitcoin addresses holding 1 BTC or more number 1.01 million, which may give us an idea of how many people own at least a small amount of Bitcoin.
But what about people holding larger amounts? The data shows:
10.37 million Bitcoin addresses hold $1,000 or more worth of Bitcoin3.42 million Bitcoin addresses hold $10,000 or more1.01 million Bitcoin addresses hold 1 BTC or more
However, there are also 1.75 million dormant Bitcoin addresses that have been inactive for over a decade, with the owners likely having lost access to those wallets.
Despite these figures, it’s important to note that Triple A, one of the most reputable studies on crypto ownership, does not specify how many people hold Bitcoin specifically. This is a crucial point as multiple wallet addresses can belong to a single person, clouding the data.
Crypto Ownership Worldwide and In High Inflation Countries 🌍
As of 2024, 560 million people globally own some form of cryptocurrency. Bitcoin remains the most widely held digital asset, but it’s essential to look at regional differences, especially in countries with high inflation. For example:
Turkey: 19.3% of the population owns cryptocurrencyArgentina: 18.9% of the population owns cryptocurrencyBrazil: 17.4% of the population owns cryptocurrencyVenezuela: 10.3% of the population owns cryptocurrency
These figures reflect how Bitcoin and other cryptocurrencies are increasingly used as stores of value in countries grappling with inflation and economic instability.
Active Bitcoin Wallets and Transactions 📅
Despite the growing number of wallets, we can look at more meaningful data like the number of daily active Bitcoin wallets and transactions. Currently, there are about 547,767 active Bitcoin wallets transacting on the Bitcoin network each day. These wallets contribute to an impressive 730,664 Bitcoin transactions within a 24-hour period.
The average transaction value is around 0.1668 BTC, which is approximately $10,633 at current prices. This shows that Bitcoin is not only used for small transactions but also for more substantial financial activities, including investments, remittances, and trading.
The Wealth Distribution of Bitcoin 💰
Bitcoin wealth is still highly concentrated among a small number of wallets, though more people are starting to hold substantial amounts. Here’s how Bitcoin is distributed across different wallet sizes:
10–100 BTC: 22% of total Bitcoin wealth is held by addresses in this range.100–1,000 BTC: 20.3% of total Bitcoin wealth.1,000–10,000 BTC: Representing a combined value of $301 billion, this category holds a significant portion of the Bitcoin wealth.
These numbers highlight the growing participation of institutional investors and high-net-worth individuals in the Bitcoin market, alongside individual holders.
Bitcoin Adoption and the Future of Crypto 🛠️
Looking ahead, Bitcoin’s adoption will likely continue to rise, especially with the launch of Bitcoin ETFs and Layer 2 solutions like the Lightning Network, which enable faster and more efficient transactions.
In countries with higher inflation, Bitcoin is becoming an essential tool for preserving wealth. Bitcoin’s decentralized nature offers an appealing alternative to national currencies that are losing value due to inflation. For example, in Argentina, 18.9% of the population has turned to crypto as a hedge against inflation, and similar trends are observed in Turkey, Brazil, and Venezuela.
Despite regulatory hurdles in various countries, it’s clear that Bitcoin’s utility as a store of value and medium of exchange will continue to grow. By 2030, the number of Bitcoin holders could easily surpass 1 billion, as more people turn to cryptocurrencies for their everyday financial needs.
Conclusion: A Bright Future for Bitcoin 🌟
Bitcoin’s journey from an experimental digital asset to a mainstream financial tool has been remarkable. As of 2024, it’s clear that Bitcoin is not just a speculative investment but an integral part of the global financial ecosystem. Whether through Bitcoin ETFs, Lightning Network transactions, or its use as a store of value in inflation-stricken countries, Bitcoin’s influence will continue to expand.
While it’s difficult to pinpoint the exact number of Bitcoin holders, estimates show that Bitcoin’s reach is growing, and millions are becoming increasingly aware of its benefits. The next decade will likely see further adoption, especially as more countries face economic uncertainty and inflation, making Bitcoin an even more attractive option.
💬 What are your thoughts on Bitcoin’s future? Will it continue to grow in the coming years? Share your thoughts in the comments below! 👇
How Many People Hold Bitcoin in 2024? Unveiling the Global Trends and Ownership Insights was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.