{"id":92436,"date":"2020-10-19T12:58:00","date_gmt":"2020-10-19T09:58:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/still-so-early-7-of-americans-have-bought-bitcoin-study-finds\/"},"modified":"2020-10-19T12:58:00","modified_gmt":"2020-10-19T09:58:00","slug":"still-so-early-7-of-americans-have-bought-bitcoin-study-finds","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/still-so-early-7-of-americans-have-bought-bitcoin-study-finds\/","title":{"rendered":"# \u2018Still so early\u2019 \u2014 7% of Americans have bought Bitcoin, study finds"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e07a04477a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e07a04477a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/still-so-early-7-of-americans-have-bought-bitcoin-study-finds\/#What_is_needed_for_Bitcoin_mainstream_adoption_to_pick_up\" >What is needed for Bitcoin mainstream adoption to pick up?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/still-so-early-7-of-americans-have-bought-bitcoin-study-finds\/#Where_would_BTC_go_with_mainstream_adoption\" >Where would BTC go with mainstream adoption?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># \u2018Still so early\u2019 \u2014 7% of Americans have bought Bitcoin, study finds <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">\n<p dir=\"ltr\">According to new data from Statista, only 7% of Americans have previously used Bitcoin (BTC). This means current investors in BTC are still in an early stage of growth.<\/p>\n<p>Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at the \u201cbirth\u201d phase of a new asset class. He <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/DTAPCAP\/status\/1318062679437750273?s=20\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cIt&#8217;s still so early for Bitcoin. Still at the birth of a new global asset class.\u201d<\/p>\n<\/blockquote>\n<p>In the longer term, Bitcoin has significant growth potential to evolve into an established store of value, like gold. If so, investors anticipate its valuation to increase exponentially over the next decade.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1122\" height=\"1268\" alt=\"The percentage of people that previously used Bitcoin\" src=\"https:\/\/s3.cointelegraph.com\/storage\/uploads\/view\/92333489a16e3e20c806298404cd34f0.jpg\" title=\"The percentage of people that previously used Bitcoin\"\/><\/p>\n<p dir=\"ltr\" style=\"text-align: center;\"><em>The percentage of people that previously used Bitcoin. Source: <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/DTAPCAP\/status\/1318062679437750273\/photo\/1\">Statista<\/a><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_needed_for_Bitcoin_mainstream_adoption_to_pick_up\"><\/span>What is needed for Bitcoin mainstream adoption to pick up?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Currently, the majority of the demand for Bitcoin comes from investors that perceive BTC as gold 2.0. Investors believe BTC would eventually establish itself as a safe-haven asset.<\/p>\n<p>Consequently, institutional investors have heavily accumulated BTC in recent months. MicroStrategy and Stone Ridge, for instance, purchased $425 million and $110 million worth of Bitcoin, respectively.<\/p>\n<p>But if the retail demand for Bitcoin picks up in tandem across major regions, it could cause BTC to grow exponentially.<\/p>\n<p>The data from Statistica shows only six countries have more than 10% of their population as Bitcoin users. The top countries in terms of Bitcoin users per capita are Nigeria, Vietnam, and South Africa, the Statista Global Consumer Survey found.<\/p>\n<p>Tapiero emphasized that the survey does not include countries top to bottom, which might have missed large cryptocurrency markets. South Korea, as an example, is not on the list despite being one of the world\u2019s bigger Bitcoin markets. He said:<\/p>\n<blockquote>\n<p>\u201cIt&#8217;s a survey of select countries. It&#8217;s not a straight top to bottom survey. IE there are countries that belong on this list that are not listed.\u201d<\/p>\n<\/blockquote>\n<p>In recent years, the Bitcoin exchange and fiat on-ramp infrastructure have significantly improved across the U.S., Europe, and Asia. However, there are still many countries that lack a reliable exchange infrastructure to this day.<\/p>\n<p>Canada, as an example, lacks a strictly regulated major local cryptocurrency exchange users can rely on, apart from Coinbase.<\/p>\n<p>Once the exchange and fiat on-ramp infrastructure gets fully established, then it would become easier for retail investors to enter the market.<\/p>\n<p>Without exchange-traded funds (ETFs) and major bank custodians, users still have to undergo a relatively complex process of using exchanges. Some exchanges require a thorough Know Your Customer or KYC verification process before users can initiate wire transfers to buy Bitcoin.<\/p>\n<p>As such, until there are further improvements in the infrastructure to onboard retail investors, the broader mainstream population would likely struggle to enter the cryptocurrency market.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"1221\" alt=\"The monthly price chart of Bitcoin\" src=\"https:\/\/s3.cointelegraph.com\/storage\/uploads\/view\/f34685b74b19b38f9f9a3c5a64dfb085.png\" title=\"The monthly price chart of Bitcoin\"\/><\/p>\n<p dir=\"ltr\" style=\"text-align: center;\"><em>The monthly price chart of Bitcoin. Source: <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView.com<\/a><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_would_BTC_go_with_mainstream_adoption\"><\/span>Where would BTC go with mainstream adoption?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The long-term predictions of Bitcoin widely vary, anywhere from $20,000 to $1 million.\u00a0<\/p>\n<p>On Oct. 16, Cointelegraph reported that asset manager Raoul Pal, the founder of the Real Vision Group, believes BTC is heading to $1 million.<\/p>\n<p>At a price point of $1 million, the fully diluted market capitalization of BTC would be at around $21 trillion. That would be more than two-folds of gold\u2019s current market valuation of $9 trillion.\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/still-so-early-7-of-americans-have-bought-bitcoin-study-finds\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# \u2018Still so early\u2019 \u2014 7% of Americans have bought Bitcoin, study finds &#8221; According to new data from Statista, only 7% of Americans have previously used Bitcoin (BTC). This means current investors in BTC are still in an early stage of growth. Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at&#8230;<\/p>\n","protected":false},"author":1,"featured_media":92437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/storage\/uploads\/view\/497afc712fd58ffb1525099e98e5d994.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,73711,73785],"class_list":["post-92436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-investments","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/92436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=92436"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/92436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/92437"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=92436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=92436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=92436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}