India Tops the World with 68 Million Bitcoin Holders

India has been estimated to be the largest market in the world based on the number of Bitcoin (BTC) holders. The global BTC adoption rate is approximately 4.5% to 6%, with the number of holders estimated to be between 370 million and 500 million. Wu Blockchain announced on the 1st at 1:19 PM (KST) the country-specific BTC holding estimates from on-chain analyst Willy Woo. India has the highest number of Bitcoin holders at around 68 million, followed by the United States with about 50 million and China with approximately 33 million, ranking second and third respectively. In terms of the holding ratio relative to the population, Vietnam ranks high at about 17%, the United Arab Emirates at around 16%, and the United States at about 14%. While India leads in absolute numbers of holders, its penetration rate relative to the population shows a different trend compared to smaller high-adoption countries. The holder statistics can vary based on exchange accounts, on-chain addresses, and individual estimates, and discrepancies may arise between the actual number of individuals and the statistical number of holders if one person uses multiple addresses or accounts. The analyst also suggested that the proportion of the population holding BTC is around 5%, explaining that the adoption rate refers to the percentage of the population that actually owns or uses a specific asset or technology. This country-specific estimate emphasizes the need to consider both absolute numbers of holders and the ratio relative to the population to gain a more comprehensive understanding of the scale of Bitcoin holdings.

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