As of March 2024, there are over 46 million Bitcoin wallets that hold at least $1, and approximately 460 million wallets have been created in total. However, around 90% of these wallets are inactive or hold minimal value.
According to BitInfoCharts, there are more than 40 million wallet addresses holding between $1-$100 worth of Bitcoin, while more than 17 million addresses hold between $100-$1,000 worth, and more than 7.3 million Bitcoin addresses are valued between $1,000-$10,000. This highlights that an overwhelming majority of Bitcoin holders have a small amount of money invested.
Coinbase claims to have more than 68 million accounts, while Blockchain.com claims to have 76 million wallets, together, that’s at least ~144 million wallets. There are also hundreds of more wallets with private data.
According to River Financial, the median address holds roughly 0.005 BTC, and the median entity would have roughly 0.0067 BTC, or around $180.90.
Number of Bitcoin Owners and Users
Calculating the Number of Bitcoin owners
| Bitcoin Balance | Number of Unique Addresses | Proportion of Wallets* |
|---|---|---|
| Over $1 | 46 million | 100% |
| Over $100 | 21.5 million | 46.8% |
| Over $1,000 | 10.2 million | 22.2% |
| Over $10,000 | 3.4 million | 7.5% |
| Over $100,000 | 0.6 million | 1.4% |
| Over $1 million | 0.1 million | 0.2% |
| Over $10 million | ~10,000 | <0.01% |
*Only including wallets containing $1 or more in Bitcoin value.
As of March 2024, approximately 46 million Bitcoin wallets are holding at least $1 worth of the cryptocurrency. However, it’s important to note that not all of these wallets are actively used. Only a fraction, around 21.5 million, contains more than $100 worth of Bitcoin. This indicates that while a significant number of individuals possess Bitcoin, a substantial portion may hold it passively.
Number of Daily Users
Daily transactions serve as a crucial metric in assessing Bitcoin’s user base. Between January 29th and March 18th, 2024, the average number of daily Bitcoin transactions stood at approximately 378,000. This figure underscores the consistent activity within the Bitcoin network, highlighting its relevance in the realm of digital transactions.
Growth of Bitcoin users
The trajectory of Bitcoin adoption has been notable, with an increasing number of individuals joining the cryptocurrency ecosystem. While precise figures for user growth may vary, the overall trend indicates a steady rise in Bitcoin ownership and usage. Factors such as technological advancements, growing institutional interest, and expanding awareness contribute to this upward trajectory.
Impact of Celebrity Endorsements
Influence on Bitcoin Use Cases
Celebrity endorsements have played a significant role in shaping public perception and adoption of Bitcoin. High-profile endorsements from individuals in the entertainment, business, and sports sectors have propelled Bitcoin into the mainstream consciousness. These endorsements not only validate Bitcoin’s utility but also encourage its use for various purposes, including investment and transactions.
Broader Market Trends
The impact of celebrity endorsements extends beyond individual use cases to influence broader market trends. Positive endorsements often coincide with increased investor confidence and heightened market activity. Conversely, negative sentiments from influential figures can lead to short-term fluctuations in Bitcoin’s value. Therefore, celebrity endorsements serve as both a reflection of and a catalyst for market sentiment.
Economic Conditions
Economic conditions, including inflationary pressures and geopolitical uncertainties, also play a pivotal role in driving Bitcoin adoption. As traditional fiat currencies face challenges such as currency devaluation and political instability, individuals seek alternative stores of value. Bitcoin, with its decentralized nature and finite supply, emerges as an appealing hedge against economic volatility, further bolstering its adoption.
The Future of Bitcoin Ownership and Use
Projected Increase in Users
Looking ahead, the trajectory of Bitcoin ownership and usage is poised for continued growth. Factors such as increasing institutional adoption, technological innovation, and regulatory clarity are expected to contribute to this expansion. Additionally, as awareness of Bitcoin spreads and usability improves, more individuals are likely to participate in the cryptocurrency ecosystem.
Potential Impact of Events
While the future of Bitcoin ownership and use appears promising, it remains susceptible to various events and developments. Regulatory changes, technological advancements, and market dynamics can all influence the trajectory of Bitcoin adoption. Moreover, unforeseen events such as cybersecurity breaches or macroeconomic shocks may impact investor sentiment and adoption patterns.
In conclusion, Bitcoin ownership and usage continue to evolve, driven by a combination of factors including technological innovation, market trends, and broader economic conditions. As the cryptocurrency landscape matures, understanding these dynamics becomes increasingly crucial for stakeholders navigating this rapidly changing ecosystem.
