According to a recent poll performed by Gemini, a famous cryptocurrency exchange run by the Winklevoss twins, almost half of bitcoin owners entered the market in the previous year.
Gemini conducted a survey of 20 nations in North America, Latin America, and Asia-Pacific.
Given how much bitcoin values increased in 2021, the rate of adoption is now surprising. The overall market capitalization reached more than $3 trillion in November, with Bitcoin hitting an all-time high of around $69,000. Solana, Terra, and Dogecoin, for example, have seen enormous rises, capturing the attention of the financial community.
Image by coinmarketcap.com
Unsurprisingly, the poll finds that countries with high inflation rates are more likely to adopt bitcoin. People are looking for alternatives to fiat currencies in the cryptocurrency sector due to the depreciation of various fiat currencies.
When it comes to crypto adoption, Indonesia and Brazil are at the top of the list, with more than 41% of their residents already owning digital assets.
Despite their volatility, 64% of Indonesians see cryptocurrency as a way to protect against inflation.
Cryptocurrencies are less popular in places where fiat currencies are more stable. In the United Kingdom, for example, 18% of respondents hold digital assets. Only 15% of Europeans believe bitcoins can be to protect against inflation.
7% of European respondents who do not currently own any digital assets intend to purchase them in the future.
In the United States, almost a fifth of respondents had purchased cryptocurrency.
While cryptocurrencies made great progress last year in terms of general acceptance, it remains to be seen if this enthusiasm will endure. Despite a recent rise, the bulk of cryptocurrencies are still well below their all-time highs (save for outliers such as Terra).
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