Analyst Willy Woo: Bitcoin holding rate may become a key threshold for "separation of money and state."

On-chain analyst Willy Woo stated that currently about 4% of the global population holds S&P 500 assets, 4.5% hold gold, and 5% hold Bitcoin (BTC), and suggested that the future penetration rate of Bitcoin will determine its role attributes.

He indicated that at a holder population percentage of about 5%, BTC is still primarily viewed as a financial asset; if this ratio rises to about 50%, it could signify the emergence of a pattern of "separation of money and state."