Bitcoin Milestone: Half a Billion Owners Worldwide

The number of Bitcoin holders has surpassed half a billion people worldwide, according to an updated report by on-chain analyst Willy Woo. This milestone marks a significant reality for the cryptocurrency market, with BTC owners accounting for between 4.5% and 6% of the global population.

India leads in absolute numbers with 68 million users (4.6% of its population), followed closely by the United States with 50 million people and the highest penetration rate among large economies (14% of the population). China remains third, despite regulatory restrictions.

The top countries for Bitcoin adoption include Vietnam and the Philippines, which have recorded the highest levels of cryptocurrency penetration relative to their populations. In regions with unstable macroeconomic conditions, such as Argentina and Turkey, the retail sector uses digital assets as a tool for hedging against local inflation risks and bypassing currency controls.

While some investors expect Bitcoin to reach $250,000 in value, Willy Woo cautions that this is unlikely, citing diminishing returns. He estimates that the current cycle's upside is around 1.8x, limiting the likely peak to approximately $123,000. Woo also notes that reliable investment signals are generated only at the bottom of a market cycle, when large players identify an asset as undervalued.

In the long term, supporters of Bitcoin contrast it with the fiat system, pointing to gold's $32 trillion market capitalization. Some models even suggest a long-term value for BTC of around $5 million per coin in today's purchasing-power terms.