Despite the significant growth of Bitcoin (BTC), the number of individuals owning this cryptocurrency remains very low, accounting for less than 4% of the world’s population. According to River Financial Services, North America has the highest rate of Bitcoin adoption among individuals and institutions. On the other hand, Africa has the lowest rate of Bitcoin ownership at only 1.6%. Overall, Bitcoin adoption is higher in developed countries compared to developing ones. River estimates that Bitcoin has only captured 3% of its maximum adoption potential so far, indicating it is still in the early stages of global acceptance. One of the major obstacles is the lack of financial and technical knowledge, leading to misconceptions such as comparing Bitcoin to Ponzi schemes. The high volatility of Bitcoin is also a significant challenge for widespread adoption. Consequently, in developing countries, many people opt for stablecoins pegged to the US dollar instead of Bitcoin.
