How Many People Use Bitcoin in 2024?

There is no denying that an increasing number of people are investing in Bitcoin and other cryptocurrencies. But that begs the question – How many people use Bitcoin in 2024?

While it is impossible to give an exact figure due to the decentralized nature of cryptocurrencies, more than $17 billion worth of Bitcoin has been traded in the last 24 hours alone.

In this guide, we analyze the finer details of how many people are actively involved with Bitcoin, covering metrics like trading volume, active wallet addresses, and recent studies.

How Many People Hold and Use BTC in 2024?

Unlike stocks and other traditional securities, there is no accurate way to determine how many people own Bitcoin. The reason for this is that Bitcoin is decentralized, meaning it doesn’t trade through regulated markets or centralized exchanges. Moreover, while the Bitcoin blockchain publicly displays all transactions and wallet holders, this information is not tied to real-world identities.

This is the case even if the Bitcoin holder invested with fiat money. Sure, the investor would have been required to upload KYC documents. But the exchange will not release this information to the public. One method that people use to determine the number of holders is the number of Bitcoin wallet addresses. According to Chainalysis, more than 460 million Bitcoin addresses have been created.

How Many People Use Bitcoin?

However, this doesn’t help us determine how many people actually use Bitcoin. After all, one person can create as many addresses as they like. Moreover, one person might have multiple wallet addresses across various crypto exchanges. Additionally, most of these Bitcoin wallet addresses are empty or inactive.

Another method is to look at the number of Bitcoin wallets that actually have an active balance. According to the blockchain analysis platform BitInfoCharts, there are over 67 million wallet addresses with a balance of $1 or more. Of this figure, 40.5 million have a balance of between $1 and $100. This highlights that an overwhelming majority of Bitcoin holders have a small amount of money invested.

It is also wise to explore how many people use Bitcoin for transactions. This metric is easier to identify with certainty, considering that all Bitcoin transactions are recorded on the blockchain. As per BitInfoCharts data, 371,267 transactions were processed on the Bitcoin blockchain in the prior 24 hours. What the transactions related to, however, remains to be seen. After all, this can include deposits and withdrawals into and from a crypto exchange. It can also include payments, online purchases, loans, savings accounts, and other DeFi products.

Calculating How Many Bitcoin Owners There Are

In the section above, we covered some of the methods that can be used to assess how many people use Bitcoin in 2024.

We will now take a much closer look at each method.

Bitcoin Wallet Addresses

As noted above, a Chainalysis study found that more than 460 million Bitcoin wallets have been created to date.

The study notes that of this figure, only 37% are “economically relevant“. This is because the vast majority of wallets belong to named services, such as the best crypto exchanges.

We argue that the most reliable figure is the number of Bitcoin wallet addresses with an active balance. As per BitInfoCharts, 67 million Bitcoin addresses hold at least $1. Some of these wallet addresses could be dormant. For example, some people might have no interest in revisiting a wallet that only holds a couple of dollars worth of BTC tokens.

That said, BitInfoCharts also provides reliable data on the number of Bitcoin wallets that are dormant. Currently, this figure stands at 17.97 million wallets. This is based on Bitcoin wallet addresses that have not witnessed any movements in the prior seven years.

Bitcoin Transactions

Another method when assessing how many people use Bitcoin is the number of transactions that occur in the ecosystem. After all, this data refers to people who actually move Bitcoin from one location to another.

As per BitInfoCharts data, 371,267 Bitcoin transactions took place in the past 24 hours.

However, focusing on the number of Bitcoin transactions also comes with major drawbacks. First, many Bitcoin investors are long-term holders. While they might not use Bitcoin actively, they are still very much involved in its ecosystem. Second, the number of daily transactions does not highlight how many individuals this relates to.

For example, consider the Bitcoin wallet address listed below:


This wallet belongs to Binance, the largest crypto exchange globally for trading volume and active users.


As per the image above, this Binance wallet has executed a considerable number of transactions over the past 24 hours. This will be the case for all crypto exchanges, considering the number of incoming and outgoing transactions they process.

Bitcoin Trading Volumes 

We would also consider trading volumes a useful indicator when assessing the number of Bitcoin users. Sure, this doesn’t tell us how many people actually hold Bitcoin. But it does give us an idea of broader trends.

  • Over the prior 24 hours, more than $17 billion worth of Bitcoin was traded.
  • This figure fluctuates wildly based on the demand for Bitcoin.
  • For example, on June 21st, 2023 – Bitcoin’s 24-hour trading volume was over $33 billion.
  • Three days previous, this figure dropped to $9.5 billion.
  • The day of the week also plays a part in how much Bitcoin is traded. For example, trading volumes are usually at their lowest over the weekend.

According to Reuters, the highest daily trading volume in Bitcoin’s history was $68.3 billion. This feat was achieved on January 5th, 2021, when Bitcoin hit a then-all-time high of nearly $35,000.

Global Crypto Ownership 

Another important metric is the number of people that own Bitcoin.

Once again, there is no specific source that provides this figure. Instead, the best approach is to evaluate reliable studies with strong methodologies.

One such example is a recent study conducted by Triple-A, a cryptocurrency payment gateway regulated by the Monetary Authority of Singapore. The Triple-A study estimates that globally, there are 420 million cryptocurrency owners. The study notes that this represents 4.2% of the worldwide population. However, these figures are skewed in the context of Bitcoin, as they cover all cryptocurrency assets.

As such, let’s turn to research conducted by According to the study, throughout 2022, the number of Bitcoin owners went from 183 million in January to 219 million in December. states that this figure represents 52% of global cryptocurrency ownership. As such, this mirrors the research conducted by Triple-A. Moreover, this also aligns with Bitcoin’s market dominance, currently at 50.2%.

Another study worth noting was commissioned by Coinbase and conducted by Morning Consult. The study found that 20% of Americans currently own cryptocurrency. Considering the most recent Census findings – which state a US population of almost 335 million, this translates to about 67 million cryptocurrency holders. The study doesn’t, however, state how many of these holders own Bitcoin specifically.

How Many People Use Bitcoin to Buy Goods?

  • More and more online merchants are beginning to accept Bitcoin for payment.
  • This includes Microsoft, Overstock, and Tesla (merchandise-only)
  • However, there are no accessible sources that show how many people use BTC for purchases.
  • Nevertheless, check out our guide on what you can buy with Bitcoin in 2024.

How Many People Actually Use Bitcoin? Key Stats

Figure Findings Notes
Number of Bitcoin Addresses 460 million 37% are “economically relevant”. Most belong to crypto exchanges and other third parties
Funded Bitcoin Addresses 67 million Bitcoin wallets with at least $1 worth of BTC tokens
Dormant Bitcoin Addresses 17.97 million Dormant is considered as no wallet movements in the prior seven years
Bitcoin Transactions 371,267 In the prior 24 hours
Bitcoin Trading Volumes  $17 billion In the prior 24 hours. All-time high is $68.3 billion (January 5th, 2021)
Number of Global Crypto Owners 420 million According to a Triple-A study
Number of Global Bitcoin Owners 219 million According to a study
Percentage of Global Bitcoin Owners 2.74% Based on figures taken from a study (219 million people globally)
Number of US-Based Crypto Owners 67 million According to a Coinbase study
Percentage of Americans That Have ‘Heard’ of Crypto 88% According to a Pew Research study

How Many People Use Bitcoin Every Day?

To assess how many people use Bitcoin on a daily basis, we will need to look at various metrics.

For example, we mentioned earlier that in the prior 24 hours, 371,291 transactions have been processed by the Bitcoin blockchain. But just how many Bitcoin are there? According to our research there are just over 19.4 million Bitcoins in circulation.

This could include everything from:

  • Depositing funds into a crypto exchange
  • Withdrawing funds from a crypto exchange
  • Trading Bitcoin for another cryptocurrency or fiat money
  • Sending Bitcoin to another person
  • Transferring Bitcoin between crypto wallets
  • Lending Bitcoin via a DeFi ecosystem
  • Paying for goods and services with Bitcoin
  • And much more

Additionally, of the 371,291 transactions over the past 24 hours, it remains to be seen how many relate to unique Bitcoin holders. After all, a majority of these transactions will be associated with exchanges.

For instance, consider that over the prior week, more than 11 million people have visited the Binance exchange. Similarly, more than 3 million and 2.8 million have visited BitMart and Bybit.

How Many Bitcoin Wallets Exist?

We mentioned earlier that the number of wallets can help assess how many people use Bitcoin.

Let’s break down the key figures:

  • A Chainalysis study notes that since its inception in 2009, more than 460 million Bitcoin addresses have been created
  • The same Chainalysis study states that only 172 million wallet addresses are economically relevant. Moreover, only 27 million of these addresses actually hold Bitcoin.
  • However, data extracted from BitInfoCharts suggests otherwise. The blockchain analysis platform states that over 67 million wallet addresses hold at least $1 worth of Bitcoin.
  • That said, BitInfoCharts figures do not break the number of Bitcoin wallet addresses by individual owners. After all, many investors will have multiple wallet addresses for varying reasons.
  • CoinMarketCap opts for a different figure, claiming that there are currently 48.2 million wallet addresses holding Bitcoin. Interestingly, CoinMarketCap data suggests that the number of holders is trending upward. For example, this figure was at 45 million wallet addresses in late April 2023.

As per the above, there are lots of variables to consider when assessing how many people use Bitcoin. Ultimately, there are many different estimates to explore, and each uses its own methodology.

How Popular is Bitcoin?

When it comes to the popularity of Bitcoin, we would argue the most suitable metric is to look at market capitalization. The reason for this is that the market capitalization illustrates the total value of Bitcoin. This is based on the current price of Bitcoin multiplied by the number of BTC tokens in circulation.

Crucially, the higher the market capitalization, the more people that personally buy and hold Bitcoin. In other words, as Bitcoin has been more mainstream over the prior decade, its market capitalization has reflected this trend.

For example, consider that in 2011, Bitcoin had a market capitalization of just $2 million. This represents the valuations of micro-cap penny stocks that few people have heard of. Now let’s fast forward to late 2021, when Bitcoin hit an all-time high of over $68,000.

Bitcoin market cap

This translated into a market capitalization of over $1.3 trillion. In turn, this meant that Bitcoin was worth more than the vast majority of publicly traded stocks. With the odd exception, such as Amazon, Microsoft, and Apple.

Moreover, a market capitalization of $1.3 trillion is 650,000 times more than its 2011 value of $2 million. While the current market capitalization of Bitcoin has declined to just under $590 billion, this represents a broader market decline. Bitcoin, just like stocks and other traditional assets, go through bull and bear cycles. Bitcoin is currently in the latter.

How Many Binance Users Are There?

Binance is the largest crypto exchange by virtually all measurable metrics.

Let’s start with the number of Binance users. According to Binance’s most recent figures, it is home to over 128 million account holders. Its nearest competitor, Coinbase, has 103 million users.

However, once we begin to unravel key metrics, we can see that Binance is considerably bigger than Coinbase. And any other crypto exchange, for that matter.

For example, as per CoinMarketCap data, more than $8.5 billion worth of cryptocurrencies changed hands in the prior 24 hours. Total daily trading volume across all crypto exchanges amounted to $37.3 billion. This means that Binance facilitated 22.7% of all cryptocurrency trades globally.

In comparison, Coinbase processed just over $1 billion over the same 24-hour period. What’s more, CoinMarketCap notes that Binance had 11 million visitors over the prior week (web-based only). In contrast, Coinbase had just 22,562.

How Much Bitcoin Does Binance Have?

  • Binance is in possession of the largest active Bitcoin wallet globally.
  • Currently, its primary cold wallet address holds over 248,000 Bitcoin, valued at over $7.5 billion.
  • This relates to the following Bitcoin wallet address: 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo
  • Binance holds many other Bitcoin wallets. While some addresses are publicly available, others aren’t.

How Many More Crypto Enthusiasts Will Use Bitcoin in the Future?

There is no reliable way to predict how many people will use Bitcoin in the future. After all, Bitcoin operates in a volatile and unpredictable market. Moreover, Bitcoin is still an emerging asset class. And unlike traditional securities, Bitcoin is not a regulated financial instrument.

That being said, we can look at historical trends to assess what the future potentially holds. One of the best metrics to use is the number of active Bitcoin addresses. According to BitInfoCharts, it classifies Bitcoin addresses as active when at least one daily transaction is conducted.

  • So, Back in 2009, there were just 14 active addresses. By 2012, this had increased to over 54,000.
  • At the peak of the 2017 bull market, the number of active Bitcoin addresses surpassed 1 million.
  • At its peak in April 2021, the number of active Bitcoin addresses was just over 1.2 million.
  • Since then, the number of active Bitcoin addresses has declined.
  • In the prior 24 hours, the number of Bitcoin addresses stood at 781,131.

So why is the number of Bitcoin addresses declining? One theory is that these figures only include each individual wallet address. For example, the vast majority of Bitcoin addresses are associated with crypto exchanges. Each exchange will process many transactions under the same wallet address.

As such, perhaps a more suitable metric is to look at the number of daily Bitcoin transactions. After all, this includes all Bitcoin transactions that occur on the blockchain, even if they relate to the same wallet.

Bitcoin daily transactions

As we can see from the image above, the number of daily Bitcoin transactions remains on an upward trajectory.

For example:

  • In early 2014, there were just over 60,000 daily transactions.
  • In early 2017, the number of daily transactions had increased to 328,000.
  • At its peak in May 2023, this figure stood at over 628,000 daily transactions.
  • This is the case even though Bitcoin is trading 55% below its prior all-time high of $68,000.

Impact of Celebrity Endorsements on Bitcoin’s Use Cases

The role of celebrity endorsements on Bitcoin should not be understated. Not only on an individualistic level but endorsements from global brands.

For example, Microsoft was one of the first major companies to accept Bitcoin for its products and services in 2014. AT&T followed suit in 2019. Many other companies have since begun accepting Bitcoin and other cryptocurrencies.

That said, one of the most impactful endorsements of cryptocurrencies is Tesla’s CEO, Elon Musk. For example, according to the BBC, Tesla purchased $1.5 billion worth of Bitcoin in early 2021. Around the same period, Musk continued to endorse Dogecoin on Twitter, often considered one of the best meme coins.

However, in another BBC report, Tesla sold 75% of its Bitcoin holdings. Tesla noted that this was related to a shortfall in cash flow.  Nonetheless, as more celebrities and global brands enter the cryptocurrency markets, this can only be a good thing for the future of Bitcoin.

What Influences the Number of Bitcoin Users? 

Bitcoin, like all tradable assets, is priced based on market forces. In other words, the demand and supply of Bitcoin will determine its value.

Let’s look at some of the key metrics that can influence Bitcoin’s value and hence, the number of users.

Broader Market Trends

The value of Bitcoin is directly correlated to broader market trends. As noted earlier, Bitcoin goes through prolonged bull and bear market cycles.

When the price of Bitcoin is trending upward, this encourages more people to enter the market. This is known as FOMO or fear of missing out. On the other hand, when prices are trending downward, the complete opposite happens.

BTC USD price

Investors turn to FUD, or fear, uncertainty, and doubt. As such, people begin to sell their Bitcoin holdings, pushing its price down further.

Although Bitcoin is currently in a bear market, the digital asset is beginning to pick up momentum. For example, Bitcoin was priced at just over $20,000 12 months ago.

Today, Bitcoin is trading above $30,000. As such, it’s produced 12-month gains of approximately 50%. However, this is still 55% below its former all-time high of $68,000. Nevertheless, Bitcoin remains one of the best cryptos to buy today.

Many other cryptocurrencies have performed well over the prior year. For example, Ethereum – one of the best utility tokens, has increased by over 68%.

Economic Conditions

Although not universally agreed upon, some analysts believe that there is a correlation between Bitcoin and the broader economy.

For example, in the midst of COVID-19 in April 2020, Bitcoin went from approximately $10,000 to $5,000 in the space of a few weeks. This was in line with the wider stock markets reacting to COVID-19 being declared a pandemic.

However, Bitcoin then went on to a prolonged bull run. By the end of 2020, Bitcoin was trading at over $23,000. Towards the end of the following year, Bitcoin hit its all-time high of $68,000.

Major Economic Events 

In addition to the broader economy, some analysts believe that there is a correlation between Bitcoin’s value and specific economic events.

For example, this includes:

  • Inflation: When inflation is on the rise, this increases the cost of living for the average consumer. As such, consumers are less motivated to invest their disposable income, let alone buy risky assets like Bitcoin.
  • Interest Rates: When interest rates are on the rise, institutional investors are less inclined to invest money in alternative assets like Bitcoin. Instead, US Treasuries and other government bonds become more attractive, considering the increased yields and reduced risk on offer.
  • Regulation: The regulatory landscape of Bitcoin can also influence its adoption. The general consensus is that regulation is a good thing for Bitcoin, considering that this can help reduce scams and other illicit activities.
  • Political Policies: Similarly, political policies made by major governments can also impact market sentiment on Bitcoin – and cryptocurrencies in general. For example, if a large economy were to ban Bitcoin trading outright, the markets would view this as a bearish sentiment.

Ultimately, it is far from certain that any of the above economic events have a major long-term impact on the value of Bitcoin. While the markets might rise or fall in response to fundamental news, the vast majority of Bitcoin’s pricing action can be associated with broader trends.

So that begs the question – when will the next Bitcoin bull market begin? CNBC notes that according to Du Jun – co-founder of tier-one exchange Huobi, the next bull run will begin in 2024. This correlates to the next Bitcoin halving event, also expected in 2024.

In addition to Bitcoin, check out our market insight on the best cryptocurrencies to buy for the next bull run.

The Verdict 

In summary, there is no reliable way to assess with certainty how many people use Bitcoin. Data does, however, suggest that the number of people buying, holding, and transacting in Bitcoin continues to rise over time.

After all, there were just 14 active Bitcoin wallet addresses in 2009 – a figure that has since surpassed 1.2 million.


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Kane Pepi
Kane Pepi

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…