Maybe an interesting datapoint:

I live in a town of 20-30k people with an extremely close and tight community. Very few people move away, and families are generally big and very close.

In the shitcoin summer of 17-18, everybody and their mother was taking about the next hypecoins and the insane gainz they would make if coin X went to value Y.

Every family gathering featured an obligatory half hour discussion of who knew the guy who made the biggest gainzz, and recommendations for the next altcoin moonshot. FOMO was par for the course, so many people piled in blindly.

In short: *a lot* of people were into trading “crypto” at the time. If I had to make an educated guess, I’d say north of 50% of people/couples 18-35 were in on it. On a personal note: pretty much every one of my friends, cousins and colleagues was buying at the time.

In the 2020 Ledger leak, I decided to do a quick search for my town to see how many people this affected and maybe give them a heads up.

The search returned a total of 1 result.. a guy I happened to know, who shitcoined his BTC away (or so he says; maybe this was his “boating accident” escape)

So this was at a time where the average Joe could still afford 1 BTC with “disposable income”.

I know there are more hardware wallets than Ledger, and resellers are a thing, but based on the above, I would guesstimate very few people actually self custody, let alone more than 1 BTC.