50% of the Cryptocurrency Holders Invested for the First Time in 2021
Cryptocurrencies have become much more popular now than ever. With growing investments and a supportive business environment, as much as 50% of the current cryptocurrency holders did so for the first time in 2021. This data was shared from a survey conducted by the cryptocurrency exchange Gemini.
Data on Cryptocurrency Holders
The Gemini Exchange, a popular cryptocurrency exchange has come up with a report. This report has data that highlighted the popularity of cryptocurrencies has only increased in recent years. It says that more than half of those who are holding cryptocurrencies right now were the ones who bought them for the first time in 2021.
Details about the Survey
- The survey was conducted in the USA, South America, and Asia-Pacific.
- It had a sample size of over 30,000 individuals.
- Conducted between Nov 2021 and Feb 2022.
Such a data point clearly indicates that people have put their money and faith in cryptocurrencies despite negative publicity by politicians, business persons, and many regulatory authorities.
Other Details
- Cryptocurrency Holders also stated that more than 79% of the investors bought it for long-term investment.
- Respondents(64%) in India and Indonesia, put together, overwhelmingly accepted that cryptocurrency was a good investment against inflation.
- For the same data, respondents in the USA(16%) and the UK(15%) agreed that cryptocurrencies are a good hedge against inflation.
- Further, over 41% of respondents(put together) in Brazil and Indonesia owned cryptocurrency.
Our Analysis
- Investments in cryptocurrencies are more in emerging economies than in developed countries and emerging economies have more inflation risk than developed ones.
- Further, it signals that there is more scope for Web3 businesses in these economies as compared to Europe to the USA.