Happycoin.club - Information has started circulating on social networks that investors in India own more than a million bitcoins, which accounts for 5.1% of the total supply. However, data analysis shows that this statement is unlikely to be unfounded and distorts the true state of affairs.
Below is a message stating that India allegedly ranks second in the number of bitcoins.
According to the Crypto India group, retail investors make up the majority of cryptocurrency holders in India, leaving room for a surge if the country approves spot bitcoin ETFs that will open access to institutional investors.
And although exact verification of assets in any country is practically impossible due to the anonymity of the bitcoin network, there is no doubt that India is a world leader in cryptocurrency adoption. For example, a 2024 study shows that the cryptocurrency adoption rate in India has increased by 172%, surpassing Nigeria, Indonesia, and the USA.
Apparently, the inaccurate message on social media is based on a confusion between the number of users and the total volume of assets. According to a widely cited study, there are nearly 119 million cryptocurrency users in India, which is more than double the estimated 53.5 million users in the USA.
This huge user base of just over 8% of the total population of India puts the country in first place for the number of people involved in cryptocurrency. This is a verifiable indicator demonstrating India's significant role in the global cryptocurrency market.$BTC #BinanceSquareTalks #BTC
