That’s also <1% of countries. I think in terms of adoption it’s still early in the game. A lot of the foundational work for the Network is done, but adoption is maybe in the second inning.
Discussion
I think adoption is being severely hindered by the mass hoarding by the hodlrs.
This is because of greed.
Bitcoin can’t be a p2p payment system when 95% is locked in cold storage.
Saving in bitcoin is using bitcoin. But I do spend it as well.
There is a view that as a given unit is adopted as global money it must first demonstrate that it can store value through time. And that’s the stage we’re in. I tend to agree with that.
But Bitcoin is used transactionally as well. In the end it’s not up to anyone to say how it should or shouldn’t be used - the market will decide.
I do not agree with "saving bitcoin is the same as using bitcoin" although I do understand the logic behind it.
I agree with having a "savings account" & "spending accounts".
Personally I don’t think enough people can detach bitcoin from the preconceived fiat market value.
It needs to be used more to transact & less saving to spread more adoption.
How do you plan to onboard the rest of the world population when there’s less then a few million bitcoin actually circulating working as a currency.
Everyone on earth needs a SoV. So demand for the sat unit goes up over time as people realize bitcoin is the perfectly engineered SoV tech + its decentralized and immutable.
So value of the fixed supply unit scales up with demand. That ensures there is enough bitcoin for everyone.