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On-chain analyst Willy Woo said about 5% of the global population currently holds Bitcoin, a larger share than the 4% he cited for S&P 500 holders in the U.S. stock market.
The data comes from a Bitcoin holder metric Woo created using Glassnode data. Woo said BTC is still viewed mainly as a financial asset at the current stage, when Bitcoin holder penetration is around 5%, but added that if the ratio rises to around 50%, it could signal the emergence of a separation of money and state.