A global survey found that inflation and currency devaluation are powerful drivers of crypto adoption, especially in emerging markets
2022 Global State of CryptoCrypto’s market capitalisation hit almost $3 trillion in 2021 as Bitcoin reached an all-time high of $68,000 – making crypto theAccording to Gemini, 41 percent of crypto owners surveyed globally purchased crypto for the first time in 2021. One of the report’s key findings is that inflation and currency devaluation were powerful drivers of adoption, particularly in emerging markets.
Slightly more than half of respondents in Brazil, India and Hong Kong made their first purchases last year. Roughly 45 percent did in the US, Latin America and Asia Pacific, and 40 percent in Europe.Gemini’s study surveyed nearly 30,000 adults across 20 countries between November 2021 and February 2022, exploring the attitudes, drivers and adoption of this new asset class and how it’s being deployed across the world.
41 percent who do not currently own crypto said they are “crypto-curious” – or interested in learning more or report they are likely to acquire cryptocurrency in the following year. Ireland led all “crypto-curious” countries, with 58 percent, followed by Germany , Colombia and the UAE . Nearly 80 percent of respondents who reported owning crypto last year said they chose to purchase digital assets for long-term investment potential, with more than half of crypto owners in Asia Pacific , Africa , and the Middle East reportedly actively trading crypto to achieve profits.
Overall, crypto ownership is highest in Brazil and Indonesia, with around 41 percent owning crypto assets in each country, followed by the UAE and Singapore with 35 percent and 30 percent respectively. That number is 20 percent in the US and 18 percent in the UK.
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