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What Is the Hidden Truth About How Scarce Bitcoin Is?
If you are investing in Bitcoin or crypto today, you are an early adopter. Read this story to see just how early you are.
Do you own an electric bicycle? The e-bike market has blown up. Today, there are over 200 million e-bikes on the streets worldwide. You may be reading this and thinking, “200 million. That makes sense. I see people riding e-bikes near me.” But what if I told you that 185 million e-bikes are in China? That may throw your sense of perspective way off.
Electric bike adoption is extremely fragmented, with a high concentration of e-bike ownership in Asia (specifically China). What is great about e-bikes is that they serve multiple purposes: they can help an injured or out-of-shape person exercise, they are an eco-friendly form of transportation, they are faster than traditional bicycles, and they help reduce traffic and congestion.
If we were in China, we’d have a different idea about how much adoption e-bikes have. Unlike e-bikes, most people don’t know if you own Bitcoin and won’t share it without being asked. So the adoption rate is a bit of a mystery. And since we humans don’t do well with extremely high or extremely small numbers, it helps to be abstract when considering Bitcoin and crypto adoption.
