India - Highest number of bitcoin owners | Truth or a Myth ?

[pawanjain]

Just saw this instagram post which says that India has the highest number of bitcoin owners across the world.
Curious to know but is this actually true ? I highly doubt it.
Or it could be that it does have the highest amount of bitcoin owners but most of them would be owning less than 1 BTC.
If we hold just 0.0001 BTC in an address that will make us a bitcoin owner and so this post hardly explains anything.

[Bitcoin Smith]

This stat is probably based on the exchange addresses alone not the entire bitcoin addresses since there is no way one can find where the user belongs just based on the bitcoin address. And in number of users it can be true because we are highly populated, and also if we see exchange, the number of active trades is quite high but I am not sure about the number of bitcoins owned.

[TheUltraElite]

A better in depth analysis is needed.

Like how much bitcoin to be held to be included in this list and how many unique users are there against every address, that should narrow down the numbers.

I guess posting on social media has always been for the shock value, for like and retweets only, not statistics.