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U.S. Bitcoin financial services firm River estimated that about 825,000 people worldwide hold at least 1 BTC, or roughly one person per 10,000 people globally.
River said it started with about 972,000 addresses holding at least 1 BTC, excluding addresses managed by companies, governments, ETFs and exchanges. It then estimated the number of exchange customers holding at least 1 BTC by assuming the distribution of BTC holdings among exchange users matches the distribution seen on-chain. Based on that method, River put the number of holders with at least 1 BTC at about 825,000, with a possible range of 600,000 to 1 million, assuming a global population of about 8.2 billion.
River added that all figures are estimates, explaining that blockchains record addresses rather than people, while a single person can control multiple addresses and a single exchange address can hold assets for millions of users.