Introduction
In recent years, cryptocurrency has become one of the hottest topics in the financial world. As more and more people are becoming aware of the concept of digital currencies, the number of those investing in them is on the rise. This begs the question: how many people in the world own cryptocurrency?
Before delving into the numbers, it is important to understand what exactly cryptocurrency is. Cryptocurrency is a digital currency that utilizes cryptography for security purposes. It is decentralized, meaning it is not controlled by any government or central authority. Bitcoin was the first ever cryptocurrency, and since then, hundreds of different types of digital currencies have been created.
Analyzing the Growing Trends of Crypto Ownership: How Many People in the World Own Cryptocurrency?
Examining Global Adoption of Cryptocurrency
The growth of cryptocurrency over the last few years has been nothing short of remarkable. According to CoinMarketCap, the total market capitalization (market cap) of all cryptocurrencies combined rose from $17.7 billion in January 2017 to $274.5 billion in December 2018. This is an increase of nearly 1,500%. Furthermore, the amount of venture capital invested in blockchain startups increased from just $1 billion in 2017 to $4.6 billion in 2018.
Examining the Numbers
So, how many people in the world own cryptocurrency? According to a study by Cambridge University, there are currently between 2.9 million and 5.8 million unique users actively using a cryptocurrency wallet. Furthermore, the Global Digital Report 2019 from We Are Social and Hootsuite found that 8% of internet users worldwide own some type of cryptocurrency.
This means that approximately 246 million people around the world own some form of cryptocurrency. However, this figure is likely to be an underestimate as it does not take into account those who have acquired digital currencies through other methods such as peer-to-peer exchanges or through Initial Coin Offerings (ICOs).
Who is Investing in Cryptocurrency and Where Are They Located?
Examining Regional Differences
When it comes to global cryptocurrency adoption, there are some noticeable regional differences. According to the Global Digital Report 2019, the highest rate of cryptocurrency ownership is in North America, where 17% of internet users own some type of digital currency. Asia follows close behind with 13%, while Europe lags behind with just 6%.
Examining Demographics
In terms of age demographics, those aged 25-34 are most likely to own some form of cryptocurrency, with 12% of internet users in this age group owning some type of digital currency. Those aged 18-24 are the second most likely to own cryptocurrency, with 10% of internet users in this age group owning digital currencies. Finally, those aged 35-44 are the least likely to own cryptocurrency, with just 7% of internet users in this age group owning some type of digital currency.
The Worldwide Reach of Digital Currencies: How Many People Are Holding Crypto?
Exploring Global Statistics
According to Statista, the number of blockchain wallet users worldwide is expected to grow to over 111 million by 2024. This suggests that the number of people who own cryptocurrency could be much higher than the current estimates of 246 million. Furthermore, the value of the global cryptocurrency market is projected to hit $1 trillion by 2025.
Looking at Country Specific Data
When it comes to individual countries, the United States leads the way in terms of cryptocurrency ownership. A survey conducted by Finder.com found that 8% of Americans own some type of digital currency. Other countries with high rates of cryptocurrency ownership include South Korea (7%), Canada (6%), Australia (4%), and the United Kingdom (4%).
Conclusion
Summary of Findings
In conclusion, we can see that the number of people who own cryptocurrency is on the rise. There are currently between 2.9 million and 5.8 million unique users actively using a cryptocurrency wallet, and approximately 246 million people around the world own some form of digital currency. The highest rate of cryptocurrency ownership is in North America, with 17% of internet users in this region owning some type of digital currency. The number of blockchain wallet users worldwide is expected to grow to over 111 million by 2024, and the value of the global cryptocurrency market is projected to hit $1 trillion by 2025.
Implications for Future Research
Given the constantly evolving nature of the cryptocurrency industry, it is important to keep track of the latest trends in order to determine the impact of digital currencies on the global economy. Further research should be conducted to gain a better understanding of who is investing in cryptocurrency and where they are located. Additionally, future studies should focus on exploring the potential implications of cryptocurrency adoption on the global financial system.
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