Overview of ‘Crypto Adoption Reports’ from the FCA, Gemini, and Finder

Interest is increasing in digital assets such as cryptocurrencies.  This is most obvious when looking at the run-up in prices over the past few years.  While this can be a good indicator for demand, it is a narrow perspective; To broaden this, it is important to know – how many people actually hold such assets?  Multiple new reports have taken a closer look at the metrics surrounding this question.  Here are a few highlights from each.

State of U.S. Crypto Report – Gemini

In this report, generated by Gemini, data was obtained from 3000 adults residing in the United States.  By its estimates, Gemini predicts upwards of 40 million individuals within the nation may soon own cryptocurrencies.  Of those that indicated they currently own digital assets, 74% were men.

Interestingly, of the 3,000 individuals surveyed, 2,200 (74%) fell between the ages of 25-44.  What makes this intriguing is that past studies have determined these are the years during which one’s net worth increases the greatest amount.
If a genuine interest and belief in digital assets is imbued among this demographic, it would stand to reason that rapidly increasing net worth’s would only aid the continued run-up of prices in the sector, as interested parties have more money to spare.

Crypto Adoption Report – Finder

Moving north of the border, Finder’s Crypto Report indicates that Canada boasts nearly 14% ownership among its populace.  While its’ adoption may appear slightly higher than the United States, the composition remains much the same – Men between 18-44yrs of age.

This report dove deeper than just North America however, with 42,000 individuals from over 25+ countries surveyed.  The following chart highlights the top and bottom three countries represented by % ownership within its populace.

Interesting to note is that this survey finds highest level of ownership typically occurs in smaller nations such as Vietnam, and Indonesia.  While it would stand to reason that wealthy nations such as the United States would see higher levels of ownership among its populace due to expendable income, the numbers prove otherwise.  The reason perhaps is that the citizens of such nations are not simply enthusiasts of cryptocurrencies, but rather use/rely on it for actual use (eg. remittance).

Cryptoasset Consumer Research – Financial Conduct Authority (FCA)

The FCA – an important regulatory body within the United Kingdom – has also just released the 4^th iteration of its ‘Cryptoasset Consumer Research’ for 2021.  In this report a few key points were found, which focuses solely on the United Kingdom.

• Interest in, and awareness of crypto has increased
• Crypto is shifting from being viewed as a ‘gamble’ to an alternative investment
• 50% of existing holders plan to buy more moving forward

To learn that interest and perception of crypto is increasing is unsurprising.  This was reflected in each of the previously mentioned studies, along with on-going signs of mainstream adoption (eg. El Salvador).
What stands out is that 50% of investors that already hold cryptocurrencies intend to continue purchasing more.  This is a positive sign, as it indicates that cryptocurrencies have a lasting appeal.  Investors are not just buying a small amount out of curiosity and moving on – they plan on increasing their exposure.  If this holds true, growth within the sector will continue unabated, as the influx of new investors will far outweigh what little attrition there is among the ranks.

Overview

While seeing Canada boast 14% ownership, and a tech-savvy population in the U.S. coming into their fastest wealth accumulating years is a good thing, there is still massive room to grow in North America.  Meanwhile, Asia has already started down this path, with the top 5 countries by ownership each coming from within the continent.  As far as the United Kingdom's FCA is concerned, interest in the sector is growing while managing to not dissipate among existing investors.
Simply put – despite the massive strides made over only a few years, there is massive room to grow in every corner of the globe.

For those wondering which asset is most popular in every nation?  Bitcoin.