According to crypto exchange Gemini almost half of cryptocurrency owners
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According to crypto exchange Gemini, almost half of cryptocurrency owners first bought it in 2021.

American cryptocurrency exchange Gemini conducted a survey of cryptocurrency holders from the United States, Latin America and Asia Pacific (APR). It turned out that almost half of the respondents were buying cryptocurrencies for the first time in 2021.

    Image source: TheDigitalArtist/pixabay.com

Image source: TheDigitalArtist/pixabay.com

Around 30,000 people from 20 countries took part in the survey, and the data was collected from November 2021 to February 2022. Inflation in a number of countries significantly influenced purchasing decisions.

In terms of the degree of implementation of cryptocurrencies in everyday life, Brazil and Indonesia are leaders – 41% of respondents in these countries said they own cryptocurrencies, for comparison – in the USA such 20% and in the UK – 18%.

It turns out that 79% of those who said they bought cryptocurrencies last year did so for a long-term investment. People who do not own cryptocurrencies and live in countries whose currencies have depreciated the most against the dollar were more than five times more likely to say they intend to buy cryptocurrencies as a hedge against inflation. For comparison, only 16% of respondents in the US and 15% in Europe believe that cryptocurrency savings are a hedge against inflation, compared to 64% in Indonesia and India. Over the past five years, from 2011 to 2020, the Indian rupiah has depreciated by 17.5% against the dollar and the Indonesian rupiah by 50%.

Only 17% of Europeans said they would have bought digital assets in 2021, and just 7% of those who don’t currently own cryptocurrencies said they plan to buy them at all at some point. It is not yet known how recent world events will affect the popularity of crypto assets in the region.

According to Reuters, the world’s most popular cryptocurrency, Bitcoin, reached about $68,000 per “coin” last November, growing the cryptocurrency market to $3 trillion. According to CoinGecko, it will trade at $34,000-$44,000 in 2022, but today the price is just over $46,000.

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About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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