Bitcoin Adoption Is Now Bigger Than Gold, S&P 500 Globally, Says This Crypto Analyst — Here's Which Countries Lead

Cryptocurrency analyst Willy Woo highlighted on Monday that Bitcoin has higher global adoption than the S&P500 and gold.Bitcoin’s Growing AdoptionWoo stated in an X post that roughly 5% of the world population owns Bitcoin, comparable to 4% for the S&P 500 and approximately 4.5% for gold.Woo said they 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.The analyst said that at the current levels, Bitcoin is “no more than a financial asset,” while arguing that if it reaches 50% adoption, that’d mean “separation of money and state.”Don’t believe these for a second. I know like 2 people in my circle who own bitcoin, everyone owns s&pPeople in the replies weren’t buying it, though. They pointed out that way more folks have exposure to stocks than to Bitcoin.“The trick is to understand 4-5% of the world use SPX+Gold as an investment, while BTC is also used to solve a monetary problem – especially where capital controls or hyperinflation exists,” Woo said. Read Also: Which Country is Leading BTC Adoption?Woo also posted a table ranking countries by BTC ownership rates and implied owner numbers, with estimated worldwide adoption at 4.5%-6% or roughly 370-500 million people.BTC ownership by country.4.5 – 6% global adoption. With 68 million holders, India led the world in absolute Bitcoin ownership, even though this represented only 4.6% of the population.Notably, the dollar has gained more than 30% in value against the Indian rupee over the past five years.The U.S. had an ownership rate of 14%, representing 50 million owners. while Vietnam recorded the highest penetration rate at 17%.Curiously, China, despite enforcing a blanket ban on cryptocurrency trading and mining, still has 33 million people holding BTC, representing 2.3% of its population.Price Action: At the time of writing, BTC was exchanging hands at $77,438.44, down 1.47% in the last 24 hours, according to data from Benzinga Pro. Read Also: Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Photo: Hi my name is Jacco on Shutterstock.com