A new crypto report has revealed that the amount of crypto/worldwide-crypto-ownership-cross-320-million-here-are-the-countries-leading-the-charge/” rel=”nofollow noopener” target=”_blank”>people who own digital assets has exceeded 6.8%. This increase in adoption is ahead of the long-awaited bitcoin-news/unstoppable-bitcoin-cryptoquants-ceo-foresees-bull-run-extending-to-2025/” rel=”nofollow noopener” target=”_blank”>crypto bull runand many see cryptocurrencies as a valuable form of investment.
Cryptocurrency adoption will skyrocket in 2024
On May 24, digital asset service provider Triple A published a report detailing global cryptocurrency adoption rates worldwide, highlighting how much the industry has grown since 2023, and identifying countries that have the higher levels of cryptocurrency ownership.
According to Triple A, around 562 million people, equivalent to 6.8% of the world's population, will now own some form of digital asset in 2024. This massive increase indicates a 34% increase from 2023, which saw a total of 420 digital asset owners.
The report highlighted the ownership of cryptocurrencies in different regions of the world, noting that countries such as the United Arab Emirates (UAE), SingaporeTürkiye and Argentina had a significant number of cryptocurrency owners.
Notably, Triple A revealed that among the top 30 economies with the highest cryptocurrency ownership rate, the United Arab Emirates tops the list with an ownership rate of 25.3% of the global rate of 6.8%, while that Singapore is in second place with 24.4%. crypto/canada-crypto-ownership-in-the-country-fell-in-2-years/” rel=”nofollow noopener” target=”_blank”>cryptocurrency ownership rate.
The report also emphasized that emerging markets such as Turkey and Argentina, with their different economic positions, also have a significant percentage of cryptocurrency investors, compared to smaller economies such as Slovenia and Luxembourg.
Leading the global cryptocurrency ownership rate is the continent of Asia, which has grown to become a major hub for digital assets and innovative technologies. Asia currently accounts for more than half of the total 562 million cryptocurrency owners worldwide. By contrast, North America lags behind with approximately 72.2 million registered. crypto-owners/” rel=”nofollow noopener” target=”_blank”>cryptocurrency owners.
Asia has experienced a dramatic rise in cryptocurrency adoption over the years, with the number of cryptocurrency owners skyrocketing from 268.2 million cryptocurrency investors to 326.8 million in 2024. This significant increase highlights the continent's growing acceptance of digital currencies , underscoring its commitment to embracing digital innovation.
Factors driving global cryptocurrency adoption
Factors such as the upcoming cryptocurrency bull run, regulatory changes, and media sensation have been driving the cryptocurrency adoption in different regions. The Triple A report reveals that 2024 brought clearer digital asset regulations that transformed the cryptocurrency industry from a niche market to a dominant player in the financial sector.
The upcoming cryptocurrency bull run has been one of the main drivers of global cryptocurrency adoption, triggering bitcoin/buy-bitcoin–ethereum-bull-run/” rel=”nofollow noopener” target=”_blank”>Fear of getting lost (FOMO) from curious investors as it offers them the opportunity to make huge profits from a legitimate investment pool. According to several analysts, the 2024 cryptocurrency bull run will become the crypto-bull-run-around-the-corner/” rel=”nofollow noopener” target=”_blank”>biggest ever seendriven by the launch of bitcoin Spot ETFs and the recent approval of ethereum Spot ETFs.
Additionally, the Triple A report noted that regulatory changes have effectively bolstered investor confidence, paving the way for the discovery of new investment products such as bitcoin Spot ETFs.
Events like the bitcoin-halving-in-2024-how-to-make-money-from-the-halving-wave/” rel=”nofollow noopener” target=”_blank”>Halving bitcoin on April 20, 2024, have effectively triggered market activities, with many predicting that cryptocurrencies will embark on a major rally before the end of 2024.
Besides, educational resources such as Binance Academy, Coinbase Institute, and crypto.com University have been effectively exposing younger generations to cryptocurrencies, enlightening them about this innovative financial technology and the investment opportunities within the industry.
Featured image created with Dall.E, chart from Tradingview.com
