Bitcoin Forum

That was my surprise when I last time read this. This was a few months back when I read in one of the local newspapers where they mentioned around 4 million Bangladeshi people use Bitcoin and other cryptocurrencies. I didn't believe in that stats but today once again I found the same stats on another website namely Triple A (https://triplea.wpengine.com/crypto-ownership-bangladesh-2022/), I have no idea about them. According to them, 2.4% of people are holding cryptocurrency in Bangladesh which I think is impressive. No matter whether most of them have invested just because they are greedy. Still, it's a piece of great news in my opinion. Bangladesh is one the countries where using Bitcoin is declared illegal by the government. But this number/stats say something we are going to get in the very near future. There was a discussion regarding cryptocurrency between some employees from Bangladesh Bank. They were hinting Bangladesh may legalize Crypto within 2/3 years. Maybe finally, it's happening.

I remember reading a few news related to Bangladesh & Cryptocurrency. This might be somewhere around 2014 or 2015 when holding crypto was illegal. I have no clue whether this law is still active. If it is then the percentage of people who are into crypto is impressive. As an individual from your neighboring country, I can imagine how tough it is to deal with this business.

The governments in the Indian subcontinent do not have any clue about crypto. Likewise, every government in a third world country believes that its citizens are a slave to their terms of governing. To an extent, it is true as we have been colonies of the UK or Europe. That mentality is so strong that it is not so easy for anyone to leap into the idea of financial freedom with Bitcoin.

I am happy that things are changing for good. I hope it continues to go into the path of decentralization and the leader leading it should be Bitcoin.

This is certainly a great number considering that the country isn’t that friendly to cryptocurrency. The news article says the country is looking at regulating cryptocurrency, this has been the case of most third world nations. The ban the use of cryptocurrency and then its citizens grow increasingly in it usage, they come up with CBDC idea and again starts to regulate the whole thing.

One thing I see that could have impacted this adoption is the fact that 62% of the nations population are aged between 15-64 and this is the age group that are mostly internet users. Could the nations local currency (Bangladeshi Taka) which is weak against the top international currencies like dollar, pounds and Euro be the reason for the increase. With cryptocurrency most especially bitcoin it is easier to transact with cross boarder countries.

The more bitcoin awareness increases the more the adoption and it's acceptability, people are now getting confidence in bitcoin unlike before when they thought it would cease from existing, the fear is getting diminished each day and people are getting more exposed about bitcoin, in this case, this is not only felt as a massive adoption in Bangladesh but in many countries and parts of the world, bitcoin adoption is fast growing each day.


The more to goodnews coming ahead this time which is more anticipated for is in seing which country will be next on adoption of bitcoin as a legal tender after El-Savador and Central African Republic, maybe the unexpected may come in through Bangladesh this time around if it's leaders have much interest in bitcoin as the people have shown.

Well this could be very possible because I often noticed that whenever a country ban her citizens from trading and involving their self with cryptocurrency that is when the numbers of their usage will increased uncontrollably, typical example of what I am saying is Nigerians, since from the announcement about cryptocurrency restrictions that's how the numbers of bitcoin and cryptocurrency traders increases exponentially. I don't doubts same thing might happen to bangladesh or to any other country's that tends to ban or restricts cryptocurrency activities within them. Sincerely speaking this is encouraging showing how the max adoption is gradually taking over.

This is good news for a country that see cryptocurrency to be evil and put a ban on it,has now realize the usefulness of cryptocurrency and now they have accepted it but chose to regulate cryptocurrency. The fact of that government cannot shut bitcoin down even though they try by placing a ban or it,bitcoin adoption we still keep on increasing in that country that it is illegal. Isn't this ridiculous ?

Bangladesh government has taken to bold step to accept cryptocurrency and this should be an example to those countries who have placed ban on crypto to learn from them because it is the government of the country that is missing out,because its citizens will be using cryptocurrency behind them. I see that with time those government that placed a ban on crypto will remove the ban when they realize the benefits of cryptocurrency to individual and the government.

Interesting news. I didn't know my neighboring country has acquired some bitcoins as well.
It's good to know that 2.4% of it's population are into crypto and I wish the number keeps increasing every year.
Bhutan has also been into crypto under the hood and is mining bitcoin [local board discussion (https://bitcointalk.org/index.php?topic=5450946.0)]
While India has been into crypto and declared 30% flat tax on it many individuals have stopped using crypto yet the number of people using it remains significant.
I hope the tax rate decreases which will further boost the use of crypto in India.

Back in 2014, when Bitcoin Foundation Bangladesh was founded and Sazeeb was named the President, with some other members, people discussed Bitcoin a lot. Back then, Bangladesh Bank declared using crypto as illegal, and still, they are in the same boat though they are not taking any steps either against cryptocurrency users. There was some update in 2017 and recently but that did change anything from the first statement.

Same here in Bangladesh too. Govt and media are promoting Bitcoin as an illegal currency, the currency of the dark web, gambling, etc. But don't have any idea what Bitcoin is in reality.

I would say yes, that's one of the reasons of course because people are more concerned about the inflation happening these days. Everything is getting expensive each day and I doubt govt can control it. That's why people are looking for alternatives. As investing in Gold isn't that easy because of investment size, storing etc, people are more interested in cryptocurrency investment.

That was a stupid decision, to be honest. I don't see why govt is discouraging cryptocurrency investment and encouraging illegal cryptocurrency investment to avoid taxes. I'm sure many people are secretly doing this.

The central bank of Bangladesh had indeed banned cryptocurrency couple of years back. They have also made some arrest back in those days to spread fear. But the statistics here is encouraging. Despite ban and arrests, if 2.4% of the entire population is holding bitcoin, then it's definitely going the right way for the future. The adoption should increase over time and since a lot of Bangladeshi people leave in foreign countries, it won't be a huge amount of challenge to convert them into fiat.

Nice move by Bangladeshi. Bitcoin is having wave in the world. Bitcoin never force any country and individuals to adopt it but they on their own adopt it because whenever one see the potential and the value of the asset. Those countries which ban bitcoin directly or indirectly are the ones using bitcoin even the more by the their citizens. So is there any way to ban or stop the citizens that are interested to use the asset (bitcoin) again. Let the world just approved bitcoin as legal tender asset for all. So that those countries that interested to switch bitcoin can do it without wasting time. One thing in the bitcoin adoption is not only the approval of the asset for everyone to use but the government policies that will also favour the people who are using the asset. Because there are some government that will see the value of bitcoin for individual and start to do their wicked act of creating obnoxious laws and policies to suffer the citizens that using the asset. I wish Bangladeshi government to create a bitcoin and other Cryptocurrencies friendly environment for the citizens.

From the looks of it I'd say the Bangladeshi government simmered down on their crusade against bitcoin, otherwise such a high number as 4 million confirmed active users wouldn't show up like that. I'm not saying they completely accepted bitcoin, coz no news of this thing ever going out has been released yet, but at the very least this means that whatever efforts they have made in the past either didn not work anymore, or they have stopped for some reason in favor of more upfront issues that the country is facing. Whatever that could be, this is a great gateway to better introduce bitcoin in the country. A chance to take a step with the right foot you know what I'm saying? Anyhow, nothing new about this, Bangladesh government still hates crypto, citizens finding out ways to get around this ban, yada yada.

This is actually good news for Bangladesh and the Bitcoin community as well, if Bangladesh legalizes crypto in the coming years it would be really amazing imo. With a population of almost 170 million[1] the country could add a lot to Bitcoin, and the community would undoubtedly grow larger.

It's impressive that even though Bitcoin isn't yet legalized in their country 2.4% of the population is already into it, this shows that they are forward-thinking and recognize the potential of blockchain technology for their future.

[1]: https://www.worldometers.info/world-population/bangladesh-population/

According to the worlddata.info, the average inflation rate of Bangladesh from 1987 to 2022 is 6.5% per year and there has been a continuous increase in the price of goods. What cost 100 takas in 1987 cost 889.06 takas at the beginning of this year which is a 789.06℅ increase. Keeping or saving the local currency is a poor financial decision because it will lose value in a few years. The people of Bangladesh see bitcoin as a true hedge against inflation that's why they are using and investing in bitcoin.

Commercial Banks in Bangladesh are not healthy and cannot be trusted. Most of them are suffering from the effect of financial irregularities and bad debt. People prefer to be their own bank because these banks are not trustworthy and Bitcoin and others are the best and easiest options.

https://www.worlddata.info/asia/bangladesh/inflation-rates.php

2.4% of the population of Bangladesh is still too small.  This simply implies that Bitcoin has still lots of room to grow.  Imagine if the adoption reached at least 25% of that population, that is automatically 10X more people that use and hold Bitcoin.  That means around 40m people in Bangladesh alone is using and holding Bitcoin.  If that happen we can see a dramatic increase of bitcoin demand thus pushing the price of Bitcoin to a new height.


If Bangladesh legalizes Bitcoin in the coming years, the given statistics will surely balloon.  That incident might bring new hype to the market and may cause new demand to pour in.

The people of Bangladesh needs to be in crypto than to be out of crypto, for a country with a very bad economy like Bangladesh, Pakistan, Iran and others need to be into crypto than to be out of crypto because their governments don't give a heck about the people, the best coin that's worth calling people's coin is BITCOIN.

I have few friends that are from Bangladesh and I know them through online gaming and yes they do know about Bitcoin but most of them are learning trading, instead of holding Bitcoin for long term, few said they make money from playing Axie Infinite but I doubt they are still in this game because Axie is no more profitable like it used to, people living in Bangladesh are really struggling.  

It is good some people even are aware what crypto is and even hold it. For a country like Bangladesh where it is illegal to use cryptocurrencies, where I even read on the news about how the police do arrest any citizen of it with crypto wallets, the figure is quite impressive.
Crypto will continue to gain value as long as more persons get introduced to it and have found it as a better or safer haven than the banks, where they can keep or invest their funds without anyone or agencies prying.
BTC will gain more dominance with this figure doubling in coming years and there would be need to make it a legal tender if possible.

If the statistics are true and accurate, then surely the Bangladesh government should consider softer regulations for crypto users. If they ban bitcoin or other altcoins as a means of payment, then in no way should they ban trading that could ultimately benefit both parties. Trade legalization is expected as a first step, but I don't know what the status is now.

Bitcoin adoption is expected everywhere, but it is not the duty of governments to legalize bitcoin as a means of payment as long as they have a centralized financial system. I think 2/3 years is too close for adoption status, but who knows if the government finally approves it.

Hopefully soon that restriction will be lifted and the Bangladesh government will see the importance of adopting Bitcoin. It's a good news to see that there are still this percentage of people that holds crypto there despite the declaration of the government that it's illegal to have it.
Nothing can stop people from transacting in Bitcoin and they can't be traced unless they'll vocally say that they're into it. I wouldn't even be surprised if this number will grow in the next couple of years and that decision might also come out from the government that they're now be removing any restrictions that's placed upon the crypto market there.

2.4% of the people in the country must have the balls to do things despite some news where people are arrested.  You can just say the incentive of owning BTC is more enticing and that risking is more worth than just saving money in the bank.

The country I believe also can be compared to Sri Lanka where people are working hard every day for pennies. If I were also a citizen of the country, I would also be engaging in crypto.

Am I the only one who sees that there is always rapid growth and massive adoption of crypto, even if it's secretly in countries where the government always turns out to be against the currency?

This is just something I see now as normal. The government will make Bitcoin illegal and want to punish everyone who is using it, but this is the time that people always want to start using that currency more. This is because most times they believe that there is something special about that thing that the government said they should not use or that might also be a greater threat in one way or another to the government. Let me use my country (Nigeria) as an example. Since the crypto ban, all I can read and see in the news is the rapid increase in the use of Bitcoin and other crypto currencies by Nigerian citizens.

The citizens of Bangladesh know what they want, and they know what's best for them even if the government says it's illegal. All they need is an internet connection, and they will engage in whatever crypto transaction they want to do. The dedication of citizens and their continued resistance bring more pressure on them for more pressing laws, but in cases like this, when the government sees how people are using the currency and they can't control or victimize those using it, the best thing they can do is embrace it with a little form of regulation that will protect its citizens from being exploited by foreign crypto projects and exchanges that might have an interest in operating in Bangladesh. It's just a matter of time before the country makes a move to legalize Bitcoin, just as you have stated that a few bank workers are already in discussion about it.

Progress cannot be made with a prohibitive mindset. That's why in many parts of the world these bans will come to an end over time. In places where it is not prohibited, it will be formalized.

The harder the life people live, the harder they try to improve their lives. I think there are many countries similar to such countries. People living there are trying to make their lives better by relying on bitcoin. This is a very normal situation. Congratulations to those people for what they did.

Country with 1.8 million population having 2.4% of cryptocurrency holders is a great thing. However when calculated mathematically the holders count is less than 45k. Based on the news what I read years back, the present growth is really big. Earlier few people holding cryptocurrency were arrested by the police. No one were allowed to hold or trade cryptocurrency. From that situation to what we're experiencing at the present is completely different.

Bangladesh is stated as one of the growing economy of the world. Maybe the governments might've thought of bitcoin as a disturbance to the economy. For that reason it might've been announced illegal.

It's like the first line in the article:

Bangladesh has ~170 million people, not 1.8!

Anyhow, this 2 - 3 % I've seen lately are coming back down to a more credible number than 20% for some countries which is simply ridiculous, we're nowhere near that level at adoption yet, and if we were at that with these low prices and even low number of transactions and businesses accepting crypto it would be completely weird near impossible.
So, a long way still to go! 

Yeah, my calculation missed. The population is around 180 million, based on this what we have as 2.4% is really big number. Atleast people are prepared enough to hold bitcoin. Slowly the need makes them focus on different ways of using bitcoin. Above all proper education is the one thing that drives people into proper adoption and get into more real-time usage. How far Bangladesh government is supportive in this isn't known??

It seems that we can expect this to happen soon. Based on the news, it appears that the International Monetary Fund (IMF) is urging Bangladesh to create a clear policy on cryptocurrency. From my understanding, this is a push from the IMF to legalize cryptocurrency in Bangladesh, in order to accelerate economic growth post-Covid-19 and amid the ongoing conflict between Russia and Ukraine.

Bangladesh, Pakistan, and Sri Lanka are expected to see improved economic growth by legalizing cryptocurrency, which could help them pay off their debts more quickly. The United Nations (UN) has also called on India to encourage G20 members to assist Bangladesh, Sri Lanka, and Pakistan.

source : link (https://economictimes.indiatimes.com/markets/cryptocurrency/imf-flags-debt-restructuring-hurdles-says-banning-crypto-should-be-an-option/articleshow/98225516.cms?from=mdr)
source 2 : link (https://databoks.katadata.co.id/datapublish/2022/10/20/butuh-bantuan-g20-ini-kondisi-ekonomi-sri-lanka-pakistan-dan-bangladesh)

None of these countries will legally adopt cryptocurrency. Corruption, political unstablity and COVID are to be blamed for the bad economic conditions of Pakistan and Srilanka. Bangladesh is in a far better situation than the latter.

Why would IMF ask these countries to legally accept cryptocurrency. IMF would want these countries to come up with a framework on how to counter crypto adoption. None of the financial institutions support or want crypto. They are only looking for ways to make money out of cryptocurrency without being part of it.

Just like the survey in China, although the government has issued a complete ban on cryptocurrencies, many people are still using and investing in cryptocurrencies, and bitcoin mining is still implemented underground in some provinces. Show that banning cryptocurrencies is an impossible task for the government.
Nowadays, not many countries ban bitcoin anymore, many countries have realized the potential of bitcoin and started to adopt it to some extent. Not only with Bangladesh, I believe that in the near future, the governments that are banning bitcoin will also soon change the regulation and accept bitcoin, bitcoin is inevitable.

The percentage is not much higher in more developed countries.


Yes, we have yet to see a major adoption around the world in the coming years.


No, you are not the only one. Even in countries where adoption is growing very fast, it is difficult to see it. If you have 2.5% adoption in a country and it's growing at 10% a year, that means going from 2.5% to 2.75% in a year, which you're not going to notice much on the street, but I think adoption will end up growing exponentially and you'll have growth of 30 or 50% a year and even more, which you'll inevitably notice.

With this global exponential growth curve for Bitcoin adoption, what will be your local adoption in next 10 years?

I think it will be exponential too except if you are living in countries which very strictly censored for Internet and Bitcoin.

Bitcoin took 6 months to get 1000 users; 5 years to find 1 million users. (https://twitter.com/woonomic/status/1580258488684400640)
An objective look at Bitcoin adoption (https://bitcoinmagazine.com/markets/an-objective-look-at-bitcoin-adoption)

https://pbs.twimg.com/media/Fe4v9RNUYAAexpP?format=jpg&name=small

That's what privacy is really important in this matter, the government didn't take any action to people who are holding Bitcoin because they've exposed yet or the amount is still not worth for them to confiscate. Remember, police will take an action if you're name is big or you're a wealthy person because chasing a big name will increase your fame and chasing a wealthy person, you will make money from it.

So for people who hold big amount Bitcoin and live in a country where Bitcoin is illegal, they need to be careful.

This sounds like A LOT. It's good to see that more and more people (especially in poor countries) are using crypto. I think crypto save lives of people who can't use their currency because of inflation.

But I don't know what crypto they are using. The problem is, it's probably not bitcoin. Because right now it's fluctuation pretty hard to for some people it's not really safe to hold their savings in BTC.

According to Triple A list, here's the top 5 countries most crypto ownership (by individual holder).

USA (46 million)
India (27 million)
Pakistan (26 million)
Nigeria (22 million)
Vietnam (20 million)

I don't know how much accurate this data is, not having China in the top 5 list is a surprise. I know China has banned cryptocurrency but it's also true that they have a lot of crypto users. Anyway, having 4 million from Bangladesh seems a great figure regardless. I believe this is going to be twice in the upcoming bull market. That's what attracts noobs investors lol.

Maybe they are holding altcoins, maybe bitcoin but that doesn't matter. Trust me, I can guarantee that most of the investors from Bangladesh has been introduced with cryptocurrency because of memecoins like Dogecoin and Shiba Inu. I know a lot of people who was able to be rich by investing in Shiba Inu. But at the end of the day, they are cryptocurrency user/holder or whatever you tell them. Someday, they will turn into Bitcoiner maybe.

so long some of them are into crypto, they will spread good word if they are satisfied with this market. that small number will turn into bigger ones later on. they need to start from something, right?
but i thought this country is treating crypto as illegal. so it means some of its people still find a way to hold and use crypto. maybe, if their country will not ban the use of it, the adoption will further increase.

2.4% of the total population in Bangladesh is involved in cryptocurrency and is using Bitcoin directly and indirectly this is really surprising news. As a Bangladeshi citizen I cannot use Bitcoin directly and for transactions I have to do transactions on Binance P2P under the guise of avoiding the eyes of the law. One thing to note is that four million users in our country are using Bitcoin and it will become moreIf the government of our country allows us to use Bitcoin. Our country's government and legal system prohibits the trading and use of Bitcoin in such a way that anyone who trades Bitcoin will be punished under the Money Laundering Act. That's why the people of our country cannot use bitcoins spontaneously and the privacy of bitcoin transactions has to be maintained.

It's great that some individuals even understand cryptocurrency and use it. The number is extremely astounding considering that cryptocurrency use is prohibited in Bangladesh, where I even recently heard in the news that authorities there often detain locals who have cryptocurrency wallets.
Cryptocurrency will keep rising in value as long as more people learn about it and discover it to be a better or safer sanctuary than banks, where they can retain or invest their money without worrying about other people or government authorities probing.

Good luck to them, Bangladesh isn’t a very wealthy country so I totally applaud anybody who is trying to make a better life for themselves. 1 Bangladeshi Taka is 0.0093 United States Dollar (I Googled) so these people who are buying & holding bitcoin have my absolute respect.

For high inflation countries like Turkey, and Venezuela, even bitcoin with greater volatility is better than holding fiat currency when inflation is up to 100%. Cryptocurrencies or bitcoins won't lift those poor countries out of poverty, but if people know how to capitalize on them and use them wisely, they can get out of financial trouble. That's why we see cryptocurrency widely used and popular in 3rd world countries and poor countries.
Not only Bangladesh, I hope the use and acceptance of cryptocurrencies will soon spread more in poor countries, and this is seen as an opportunity for everyone.

Not to mention that Bitcoin is illegal in Bangladesh they run the risk of getting charged in court and prosecuted and ending up in jail, this is the power of the internet these holders know the potential of Bitcoin because they can follow what's happening around the world and how Bitcoin create an impact so they prefer to take the risk and hope that when there's a shift in the government or there is a new administrator, that new administration is open for adoption of Bitcoin.

I am not sure about the accuracy of the news but I do believe that many of them are holding cryptocurrency assets especially from developing countries to fight the inflation rate in their own economy. When its completely declared illegal then users may face legal consequences and that is why we can't find exact numbers whereas Bangladesh is Islamic country so we need some Islamic scholar to do about what is bitcoin that can convince it doesn't go against the Muslim laws so country can legalize it atleast as an asset so they can generate revenue instead of pushing people towards black money concept.

Well, seeing as that Bangladesh has already explicitly banned Bitcoin and other cryptocurrencies, I cannot see how anyone could accurately estimate the amount of Bangladesh people who own any kind of crypto. So the question is not only how did they figure out 2.4% as an estimate of holders but also could this number not be completely wrong due to the fact that many remain in the shadows and would rather keep their holdings a secret?

I think the number is grossly underestimated. A lot more people in Bangladesh are probably holding crypto...

Although Bangladesh is currently known as a developing country but without any hesitation it has greatly advanced in technology. Even a decade ago Bangladesh was very backward but from that place the present government has been able to bring about a great change. The use of cryptocurrency in Bangladesh has been going on since its inception. But one of the biggest problems of this country is the corruption. The government was not prohibiting to legitimize Bitcoin because people were trying to abuse it by getting its permission. Bangladesh is the number 1 country in the world where money is laundered greatly in the world's bank. A major part of the total income in this country comes from the garments industry. With Bitcoin being allowed, those garments traders will be able to launder money very easily. However, the freelancing profession has developed greatly in Bangladesh. The government has a vision to take this situation to a better level. There is a high possibility that they will legitimize Bitcoin in that direction. Because PayPal is not yet launched in Bangladesh. Moreover, freelancers are also considering the use of Bitcoin for payment complexity. I am more optimistic because if the neighboring country India has allowed it so surely it will be done in Bangladesh.

More people will hold Bitcoin when it is legalized because the fact that lots of people are already holding Bitcoin despite no assurance of its future legalization indicates that these individuals recognize the importance of Bitcoin as an asset and as a payment system for transactions. Government intervention is likely when it comes to legalization, but since Bitcoin is decentralized, it will outperform all centralized payment systems that are expensive in transaction fees and may be unreliable in the future. This will create a demand that will benefit the holders.

It's necessary to look at the statistics up to the previous years whether this figure is a significant or reasonable growth every year. If the government doesn't see this as a threat, then I don't think legality will materialize so quickly.
Besides that, the local government is still trying hard to find an alternative to crypto (CBDC) since 2020^[1] even though they are in turn implementing blockchain technology which has been trialled by local banks. It seems they will be selective towards some "controllable" cryptocurrencies at some point if they legalize crypto.

1. https://www.thedailystar.net/bangladesh-first-blockchain-based-remittance-service-launched-1958453

As far as I know, Bitcoin and cryptocurrency are completely illegal in Bangladesh. And there are various news broadcasts from time to time in many media where it is seen that many people are caught by RAB due to Bitcoin transactions or other currency transactions. 
Despite all these risks, 4% of the total population of Bangladesh is involved in cryptocurrencies, which is a very good news. 

The population of Bangladesh is relatively high and 4% of the population is involved in Bitcoin, which is a huge number in the context of Bangladesh. In the current context maybe four percent people are involved in crazy currency but a year from now if a proper calculation is done it will be seen that the number has increased.

Whether stats are true or not can not be confirmed with the references given online. The article itself was written after assessing few of the other news channels and posts around the internet. There is no way stats can be made accurately for the bitcoin. I mean there are hundreds and thousands of addresses are generated from a second to minute and there is no limit on the same.

How one could be sure that there are 2.4% of the population holding the bitcoin? There could be single person holding hundreds of addresses. Some may be newly generated, some may be unused, some may be forgotten and etc etc.

So that is first concern here. Secondly, though government bans it, it won't affect the operation of Bitcoin. All you need is an internet connection and way to go around it. You are all set use it from anywhere. Thats the beauty of it.

Well its no suprise to me seeing that people in Bangladesh are continually using bitcoin despite its ban and restrictions in the nation, I that this is exactly the same feat that is occurring in my own nation NIGERIA, she is one of the most populous countries in world and the most in Africa I guess and it strength for the use of bitcoin has grown so fast and rapidly that bitcoin ATM are being install in some private business in some of the cities where its consumption is at its peak and despite this massive adoption and consumption of bitcoin, it is still declared illegal to transact bitcoin directly with your fiat bank but with all this recent development the government are seeing to it that they have a different perspective and are looking for way to actually understand the technology that behind bitcoin and crypto at large.

This is because of the fact that there are too many freelancers in Bangladesh and PayPal is banned there.

From countries like Bangladesh and Nigeria, it's not a surprise because people there are somewhat computer literates and they know how to find ways to bypass a restriction given online. Both of them are also not that wealthy so people were force to strive and return to cryptos even though it's risky only to have something to get.

In most countries I think the situation is also the same when it comes to banks. They won't also support crypto even though crypto on their country is already declared as legal. Banks still think that crypto is a threat to their business. They are not that open minded and think of opportunities it can bring to them once they adopt crypto.

Finding accurate data on the number of individuals holding cryptocurrency in your country is likely to be challenging. Many people use non-custodial wallets that obscure jurisdictional information, making it difficult to track. However, if the news and estimates are reliable, it is evident that a substantial number of people in your country are involved in cryptocurrencies. Nevertheless, I believe that there may be even more individuals utilizing crypto who remain silent due to government-imposed restrictions. Conversely, the increasing media coverage about Bitcoin and similar currencies is raising awareness among the general public, which I perceive as a positive development overall.

Of course, it is difficult to get really accurate data about the number of crypto users especially when the users are very concerned about privacy. I can still consider that the data in the OP doesn't include users who aren't on a centralized exchange at all, so anyone who isn't risking their personal data on a centralized exchange or such definitely won't be tracked.

I could probably tell you that Indonesia has had millions of crypto users so far or at least bought and traded them. But I believe that any analysis made will not really be able to calculate the exact number of users until now.