After a sudden adoption since the beginning of 2020, there is a little portion of the world that has exposure to crypto-assets. Prominent on-chain analyst Willy Woo presents a scenario by claiming that only 1.7%of the world owns Bitcoin, which is a little figure.
1.7% is a Little Figure
According to Willy Woo, less than 2% of the world has exposure to Bitcoin and other cryptocurrencies. 1.7% is a very little figure as it counts 120 million people who own crypto assets in one way or the other. According to Woo:
“My best estimate is 1.7% of the world population has exposure to Bitcoin. 1.3% is the lower bound. At 1.7% Bitcoin hasn’t even started on this adoption s-curve. It’s about to etch a path, at current growth, it will be one of the fastest climbs in history yet.”
He explains that if a wider adoption happens at a mass level among traders and investors, the price value of Bitcoin will gain an exponential increase. The current growth rate of it is very praise worthy and if it continues this surge in adoption, it would explode like mobile phones and the internet. According to Woo, the growing adoption can become “one of the fastest climbs in history.”
He even gave his prediction for the world’s leading digital asset as he claimed the price tag of the top digital asset could claim the figure of $200,000 by the end of the next year.
Financial experts of Wall Street have also expressed their opinions about the flagship cryptocurrency, which is bullish in nature. Niall Ferguson from Stanford University claims that big institutional players have started to think about investing in Bitcoin. Ferguson explained that people were attracted towards it as a result of the Coronavirus pandemic. As a result of a potential kick from the pandemic, Bitcoin has become a favorite asset for investors who want to prevent high inflation as a result of bad central bank’s policies.
Recently, an extensive survey was conducted by the Blockchain Capital that revealed that people in the United States think that Bitcoin would be used on a wide scale in the next five to ten years. And a lot of participants disclose their interest in Bitcoin and expressed their will to buy it in the next 5 years.
At press time, Bitcoin is exchanging hands at $19,340 after a slight increase of 0.90% over the last 24-hours.
