According to the annual report of the crypto.com website, we are witnessing a remarkable growth in the ownership of digital currencies across countries worldwide.
Here’s what you’ll read in this article:
- To what extent have digital currencies been widely accepted in different countries around the world?
- Which countries have the highest level of acceptance of digital currencies?
- The 5 countries with the most digital currency holders
To what extent have digital currencies been widely accepted in different countries around the world?
The Crypto Market Sizing Report shows that in 2023, global ownership of digital currencies alone managed to increase by over 34%. At the beginning of 2023, the number of digital currency holders worldwide was 432 million, and by the end of the year, it had increased to 589 million.
Out of these 589 million individuals, approximately 296 million, or 51% of all digital currency holders worldwide, own Bitcoin. Statistics indicate that the number of Bitcoin holders grew by about 33% in the past year. This report states that the price growth of Bitcoin in the latter months of the past year was one of the main factors contributing to the increase in the number of holders of this leading digital currency.
Furthermore, 21% of digital currency holders worldwide own Ethereum, amounting to approximately 124 million individuals. The data shows that the number of Ethereum holders also grew by over 39% in 2023.
Which countries have the highest level of acceptance of digital currencies?
Based on data from the crypto.com website, we’ll examine 5 countries with the highest number of digital currency holders worldwide. It’s worth noting that this report doesn’t claim complete accuracy in the presented statistics because the decentralized nature of blockchain makes it impossible to accurately track the number of addresses belonging to each real person or entity. However, this report can serve as an approximate source for comparing the level of acceptance of digital currencies in different countries.
5 countries with the most digital currency holders
5. Vietnam: 20 million individuals In 2023, the total population of Vietnam, a country located in Southeast Asia, was approximately 98.8 million people. Out of this number, roughly 20 million individuals were digital currency owners. This significant number of digital currency holders ranks Vietnam fifth among countries with the most digital currency users. It also indicates that over 20% of Vietnam’s population possesses these digital assets, which is a considerable figure for a densely populated country. Data from 2022 also indicates that almost 70% of digital currency holders in this country are young people aged 18 to 34.
4. Brazil: 26 million individuals With a population of over 216 million people, Brazil is known for its positive stance towards digital currencies, leading to widespread acceptance among its people. According to the crypto.com report, over 26.9 million individuals in this country own digital currencies, ranking Brazil as the fourth country with the highest level of acceptance of digital currencies worldwide.
3. United States of America: 52 million individuals The United States of America, the world’s largest economy with a population of around 340 million people, ranks third among countries with the most digital currency holders. Data shows that more than 52.8 million people in this country own various digital currencies, meaning over 15% of these assets are accepted among the American population. Most of these holders are also young people aged 18 to 34.
2. China: 59 million individuals In 2023, the population of the People’s Republic of China is estimated to be over 1 billion and 425 million people, making it one of the two most populous countries in the world alongside India. Out of this massive population, nearly 5.5% or 59 million people own digital currencies, placing China second among countries with the highest population of digital currency holders.
It’s important to note that the number of digital currency holders in China experienced significant growth in 2023, indicating a positive trend in the acceptance of digital currencies in the country. However, despite China’s high population and powerful economy, it is expected to have a greater participation in the digital asset market. Still, the Chinese Communist Party’s policies towards these assets have made Chinese people less inclined to use digital currencies.
- India: 93 million individuals According to the latest data, the population of India is estimated to have exceeded 1 billion and 428 million people in 2023, making India the most populous country in the world. Out of this large population, almost 93.5 million people own digital currencies, making this country the top country in terms of the number of digital currency owners worldwide. Despite past efforts by the Indian government to ban digital currencies, this country has witnessed an increase in people’s interest in these assets. The driving force behind this interest is the youth engaged in the booming IT industry in India, placing this country at the top of this indicator.
