A new study by Statista found out that only 7% of Americans have used Bitcoin so far. This means the current investment in the first cryptocurrency is still in a very early stage of growth.
In the long term, BTC has significant potential for growth and could evolve into an established value storage asset, much like gold. When this happens, the price of the cryptocurrency will increase substantially over the next decade. Right now, the majority of investment in Bitcoin comes from people and companies who perceive the asset as gold 2.0.
Institutional investors are ever more actively accumulating Bitcoin. In recent months publicly traded companies like MicroStrategy and Stone Ridge acquired a total of $535 million worth of BTC combined.
The data from Statista indicated that there are only six countries in the world in which there are more than 10% of people invested in Bitcoin. The leading countries in terms of Bitcoin users per capita are Nigeria, Vietnam, and South Arica. However, researchers warn that this data might be misleading as the survey doesn’t include countries top to bottom. Therefore, a crypto savvy nation like South Korea might be missing.
As reported recently many investors and crypto enthusiasts, such as Raoul Pal and Tyler Winklevoss believe the right infrastructure for massive Bitcoin investment is not quite in place yet. In Canada, for example, there still isn`t a major regulated exchange, apart from a few international ones operating there. However, the developments in this area are rapid, and sooner or later there will be a massive wave of investment of both private people and institutions that will skyrocket the price of Bitcoin.
