Bitcoin Adoption Hits 500 Million Milestone as Institutional Maturity Looms

Bitcoin's adoption rate has reached an estimated 4.5 to 6 percent of the world's population, according to cryptocurrency analyst Willy Woo.

The total number of Bitcoin holders is now over 500 million, with India having the largest number at around 68 million, followed by the United States and China.

Woo estimates that the adoption speed of Bitcoin is following an S-shaped innovation adoption curve, similar to the early spread of the internet.

The market expects Bitcoin to reach $250,000, but there is also a argument that the diminishing returns hypothesis is currently more dominant, with some predicting a peak of around $123,000.