Crypto Ownership Remains Steady Across US, UK, France, Singapore: Report
57% of crypto owners are “comfortable” adding crypto to their investment portfolio.
Author Sujha Sundararajan Author Sujha Sundararajan About Author Sujha has been recognised as 🟣 Women In Crypto 2024 🟣 by BeInCrypto for her leadership in crypto journalism. Author Profile Share Copied Last updated: September 10, 2024 07:57 EDT
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Crypto ownership has remained consistent since 2022 particularly in the US, UK, France and Singapore, a new report says.
Crypto behemoth Gemini’s 2024 Global State of Crypto report has shed some insights on crypto adoption, motivations for owning and trading cryptocurrencies, general attitudes, recent crypto ETF adoption, among others.
In the report, Gemini noted that majority (57%) of crypto owners are “comfortable” adding crypto to their investment portfolio. Further, many past owners noted that they would soon be re-entering the crypto market.
Crypto HODLers reflected a steady adoption with 21% in the US, 18% in the UK, from 2022 to 2024. Besides, France experienced a slight 18% increase in crypto owners from 16% in 2022. Meanwhile, Singapore saw a drop from 30% to 26% in the past two years.
“The consistency in ownership is due in part to crypto owners’ attitudes toward the asset class,” the report read.
“Nearly two in three crypto owners across these geographies (65%) report buying and holding cryptocurrency for its long-term investment potential, and nearly two in five (38%) hold cryptocurrency as a hedge against inflation.”
Interestingly, in the US, nearly two in five (37%) crypto respondents said that they hold some crypto through an ETF. The report suggested that the recent approval of Bitcoin and Ether spot ETFs have brought the stable growth.
A majority of US crypto owners are also planning to consider candidate’s crypto policies while voting for the November elections.
“Crypto investors have proven their resilience over numerous market cycles throughout the years, and the latest downturn was no exception,” says Marshall Beard, COO at Gemini.
The survey, conducted from May to June 2024, stressed that 57% of crypto respondents are “comfortable” making crypto, a core part of their investment portfolio.
“Majority of crypto owners want to allocate 5% or more to digital assets,” the report noted.
Additionally, there has been a dip in female ownership of cryptos this year, when compared to 2022. Only 31% female responders identifies as crypto HODLers, down from 42% in 2022. Whereas, 69% of crypto owners surveyed identified as male, up from 58%.