Willy Woo: Bitcoin Adoption Surpasses Gold and S&P 500 Globally

Cryptocurrency analyst Willy Woo has highlighted that Bitcoin's global adoption is now higher than both gold and the S&P 500. According to Woo, approximately 5% of the world population owns Bitcoin, which is comparable to 4% for the S&P 500 and around 4.5% for gold.

Woo used 'credible' surveys of Bitcoin adoption, such as Glassnode's on-chain data and Crypto.com reports, and fitted them into an S-curve adoption model. He noted that at current levels, Bitcoin is 'no more than a financial asset,' while arguing that if it reaches 50% adoption, this would mean 'separation of money and state.'

However, some people in the replies pointed out that way more folks have exposure to stocks than to Bitcoin. Woo responded by explaining that the trick is to understand that 4-5% of the world uses SPX+Gold as an investment, while BTC is also used to solve a monetary problem, especially where capital controls or hyperinflation exists.

Woo also posted a table ranking countries by BTC ownership rates and implied owner numbers. He estimated worldwide adoption at 4.5%-6% or roughly 370-500 million people. India led the world in absolute Bitcoin ownership with 68 million holders, even though this represented only 4.6% of the population.