How many people use bitcoin? It is hard to say, but there are a few data points that provide some tantalizing clues.
Bitcoin Users At a Glance
Almost 32 million bitcoin wallets had been set up globally by Dec 2018.
An estimated five percent of Americans hold bitcoin.
There are 7.1 million active bitcoin users.
Leading exchange Coinbase has over 13 million users.
Emerging markets users, who are often not considered in statistics, are
likely in the millions.
Let’s unpack those numbers a bit.
32 Million Bitcoin Wallets
Currently, there are almost 32 million bitcoin wallets according to data compiled by Statista. However, most bitcoin users have several bitcoin wallets and use multiple wallet addresses to increase their financial privacy when transacting in bitcoin. Hence, the total number of bitcoin users must be less than 32 million.
34 Percent Active Users
The number of people who use bitcoin actively has also increased. A report from the leading blockchain analysis company, Chainalysis, has revealed that active bitcoin users make up around a third of the total number of bitcoin owners.
The study used data collected until the month of August 2018. The researchers found that 2.3 million people use bitcoin to make payments while 4.8 million users will hold bitcoin to facilitate speculative trade of the cryptocurrency to turn a profit. Continue reading…