7% of Americans have bought Bitcoin, study finds

According to new data from Statista, only 7% of Americans have previously used Bitcoin.

Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at the "Birth" phase of a new asset class.

In the longer term, Bitcoin has significant growth potential to evolve into an established store of value, like gold.

Currently, the majority of the demand for Bitcoin comes from investors that perceive BTC as gold 2.0.

If the retail demand for Bitcoin picks up in tandem across major regions, it could cause BTC to grow exponentially.

The data from Statistica shows only six countries have more than 10% of their population as Bitcoin users.

The top countries in terms of Bitcoin users per capita are Nigeria, Vietnam, and South Africa, the Statista Global Consumer Survey found.

In recent years, the Bitcoin exchange and fiat on-ramp infrastructure have significantly improved across the U.S., Europe, and Asia.

Some exchanges require a thorough Know Your Customer or KYC verification process before users can initiate wire transfers to buy Bitcoin.

The long-term predictions of Bitcoin widely vary, anywhere from $20,000 to $1 million.