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Podcast Transcript of Never Too Late To The Game’s Bitcoin For Boomers Show, October 22, 2020. New episodes every Thursday.
ADOPTION RATES and Why They are Important
In 2018 only 2% of the US population owned Bitcoin. According to Statista.com, 26% said they would consider buying bitcoin in the future. Today, two years later, approximately 7% of Americans have purchased bitcoin. That’s an increase of 5% and so we are almost a third of the way to meeting that 26% predicted adoption rate.
When compared to other countries, the US has a fairly low bitcoin adoption rate. China’s adoption rate is 1% higher than the US. But what does that mean in numbers?
The population of china is approximately 1.4 billion and 8% is 116 million bitcoin users. Compared to the US with a population of 330 million and at 7% adoption rate, we are looking at approximately 23 million bitcoin users.
PER CAPITAL CALCULATIONS
In the US, 1 out of every 14.35 people own or trade bitcoin
In China, 1 out of every 12.09 people own or trade bitcoin
The highest rate of adoption is in countries who have a less than stable fiat currency, so bitcoin has actually provided more stability and independence to individuals who live in those countries. There are real world social benefits to the use of cryptocurrency.
The top 5 countries with the highest bitcoin adoption rate, from highest to lowest, are: Nigeria, Vietnam, South Africa, Turkey and Peru. The percentages of adoption range from 16% to 32%.
With the recent corporate purchases of bitcoin, the US is now primed to have a much more significant lead in the game.
Where corporations invest, individuals are sure to follow.
Buckle up for exponential growth.