New Data Reveals Every 226th Person on the Planet Owns $1 in Bitcoin (BTC)
The data provided by BitInfoCharts.com suggests that every 226th person on the planet owns about $1 in Bitcoin; while this is the lowest possible value, there are others who are holding millions of dollars in Bitcoin. This is about 0.4% of the world population that had experience or, say, exposure to Bitcoin and, therefore, the crypto market.
The data is breathtaking because if this is considered true, then the adoption rate for not only Bitcoin but other cryptocurrencies out there is on the rise; people are taking interest, and businesses are trying their best to incorporate the financial elements within their space to make the use of crypto official.
Bitcoin Adoption is Increasing
The ideation of the cryptocurrencies for these are the decentralized entities having no oversight by the centralized world on them is a factor that is pushing the proponents of Bitcoin to make its adoption even more legendary than it presently is. The name of the game is mainstream adoption, and the proponents of the flagship cryptocurrency would not stop at any cost to let their dream of making Bitcoin the mainstream financial vehicle fall to ashes.
While the adoption exercise for Bitcoin is doing great, the asset in itself is not, which means that the price of the asset is in ruins, and there doesn’t seem to be any accompanying bullish run for the cryptocurrency.
At present, the market corrections and the bearish market is crushing it, and the price has fallen to the lows of $20K and is declining even still. If something solid doesn’t emerge on the horizon anytime soon, then it is possible that the investors would have to incur some heavy losses; many of these are already jumping ship the least the crypto market can do is to make sure that these don’t drown.
But as ecstatic as the crypto market is, it doesn’t have any validity or control over the volatility factor of these cryptocurrencies, which is the change in the price of the crypto at any given moment without having to bring into account the changing numbers or graphs that are supposed to give some kind of a vague idea to the investors about the future movements of the market.
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