by Viktor A 

June 19, 2021

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Digital assets such as cryptocurrencies are gaining interest.  This is particularly evident in the price increases of recent years.  While this can be a good indicator of demand, it is a limited perspective; to broaden it, it is important to know – how many people actually own these assets?  Several new reports deal with measures in this area.  Crypto Adoption Reports is one of the foremost with regards to such reports.

The first report, published by the Financial Conduct Authority (FCA), was released on March 23, 2018. The report compiled the number of completed trades from all regulated platforms (Gemini and Fidelity) over a two-month period and revealed that, in the month of February, the average number of trades per platform was 2,074, while in March, the average number of trades per platform grew to 2,236.

Crypto Adoption Report - FCA
3 important facts from Crypto Adoption Reports 2

The crypto market is still in its infancy but that has not stopped companies from diving into it in order to make money. Cryptocurrency exchanges that are looking to make a profit from their customers are only too happy to provide them with a crypto adoption report that outlines how many people have bought coins on the exchange in a certain month and what the price for the coins was.

Crypto Adoption Reports on US crypto – Gemini

The report, prepared by Gemini, collected data from 3,000 adults in the United States. Gemini estimates that up to 40 million people in the country could own cryptocurrencies in the near future.  Of those who indicated they currently own digital assets, 74% were male.

It is interesting to note that of the 3,000 respondents, 2,200 (74%) were between the ages of 25 and 44.  This is interesting because previous studies have shown that net worth increases the most in these years. If this demographic is truly interested in and believes in digital assets, it stands to reason that rapid growth in net worth will only further drive up prices in this sector, as interested parties will have more money to spend.

Crypto Adoption Report – Finder

North of the border, Canadians own nearly 14% of cryptocurrencies, according to Finder’s Crypto Adoption Report.  Although the adoption rate in the country appears to be slightly higher than in the U.S., the composition of the population remains largely the same – males between the ages of 18 and 44. However, with 42,000 participants from more than 25 countries, this report is not limited to North America.  The following chart shows the three countries with the highest and lowest percentage of owners in the population.

Highest percentage of ownershipLowest property
Vietnam – 41UNITED KINGDOM – 8
Indonesia – 30United States – 9
India – 30Germany – 11%.

Interestingly, according to the study, the highest ownership rates are found mostly in small countries like Vietnam and Indonesia. 

It would seem obvious that rich countries like the United States would have a higher percentage of homeowners among their population due to high-income levels, but the numbers prove otherwise.  Maybe it’s because the citizens of these countries not only love cryptocurrencies but also use them for real needs (e.g., money transfers).

Tracking consumers of crypto assets – Financial Conduct Authority (FCA)

The FCA, a major regulator in the UK, has also just released the fourth iteration of its 2021 crypto asset consumer survey.  This report has raised a number of important issues that relate exclusively to the UK.

  • Interest in and awareness of cryptocurrencies have increased
  • Cryptocurrencies evolve from a gamble to an alternative investment
  • 50% of current homeowners plan to buy more in the future.

It’s no surprise that interest in and awareness of cryptocurrencies is on the rise.  This is reflected in each of the above studies, as well as in current evidence of widespread adoption (e.g., in El Salvador). It is worth mentioning that 50% of investors who already own cryptocurrencies plan to continue buying them. 

This is a positive sign, as it shows that cryptocurrencies are attractive in the long run.  Investors don’t just buy small amounts out of curiosity and then move on – they plan to increase their exposure.  If this is indeed the case, the sector will continue to grow, as the influx of new investors will more than offset the slight decline in the number of investors.

Overview

With Canada’s homeownership rate at 14% and the tech-savvy U.S. population entering the peak wealth creation phase, it’s good that North America still has room for growth.  Meanwhile, Asia has already begun to follow suit: Five countries on the continent top the list of owners.  As for the UK FCA, interest in the sector is increasing but not decreasing among existing investors. It’s simple: Despite the enormous progress made in recent years, there is still room for growth in all corners of the world. For those wondering which asset is most popular in each country?  Bitcoin.

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About the author 

Viktor A

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