Brazil and Colombia are among the countries investing the most in cryptocurrencies
RIO DE JANEIRO, BRAZIL – The number of cryptocurrency holders has almost doubled in the United States, Latin America and Asia-Pacific in 2021. This is according to a report published by Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss. It shows that the past year was “transformative for cryptocurrency adoption,” with 41% of existing cryptocurrency holders worldwide making their first investment in 2021.
Recall that bitcoin (BTC) reached a record high of over US$65,000 in November 2021, and venture capital investment in cryptocurrency businesses exceeded US$30 billion.
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Gemini’s report also found that nearly half of all current cryptocurrency holders in the U.S. (44%), Latin America (46%) and Asia-Pacific (45%) purchased cryptocurrencies for the first time in 2021.
“Inflation fears were also a major reason for adoption,” the study said. According to the cryptocurrency company, the majority of respondents in Latin America (59%) and Africa (58%), where many have experienced long-term hyperinflation, believe cryptocurrencies are “the future of money.” In the case of Brazil, 66% of respondents said cryptocurrencies are the future of money for many, while 56% of Colombians held the same opinion.
Respondents in countries that have seen their currency depreciate by 50% or more against the U.S. dollar in the past 10 years were more than five times as likely to say they plan to buy cryptocurrencies in the next year.
“The gender gap in cryptocurrency may be narrowing. Of those looking to buy cryptocurrencies for the first time this year, 47% are women. In terms of barriers to entry, education remains the biggest obstacle to investing in cryptocurrencies,” the cryptocurrency company notes.
“Women in developing countries are leading the adoption of cryptocurrencies among women,” it says. In Israel (51%), Indonesia (51%) and Nigeria (50%), more than half of cryptocurrency investors are women.
“Notably, France leads the developed world in cryptocurrency adoption by women, where more than two in five (45%) of cryptocurrency investors are women,” it notes.
Among developing countries, the United Arab Emirates is a “notable outlier, where only 32% of cryptocurrency investors are women,” Gemini says. In Colombia, 40% of cryptocurrency investors are women.
In Valora Analitik’s indicators section, you can track cryptocurrency performance in real time.
Developing countries Brazil and Indonesia led the way in cryptocurrency adoption. More than two in five respondents (41%) reported owning cryptocurrencies, compared to just 17% in developed countries and regions, including the United States (20%), Europe (17%) and Australia (18%). In Colombia and France, 16% of respondents said they own cryptocurrencies.
CURIOSITY ABOUT CRYPTOCURRENCIES
According to the report, 41% of respondents said they are cryptocurrency curious. “The cryptocurrency curious are defined as consumers who do not currently own cryptocurrencies but are interested in learning more about them or indicate that they are likely to acquire cryptocurrencies in the next year,” the study explains.
Compared to other regions, European countries had a large number of respondents who were curious about cryptocurrencies. Ireland led among cryptocurrency enthusiasts with 58% saying they are interested in learning more about cryptocurrencies or buying cryptocurrencies in the next year,” it notes.
Other countries with significant numbers of crypto-interested respondents include Germany (53%), Colombia (50%) and the United Arab Emirates (49%). In the case of Colombia, 53% of women said they were curious about cryptocurrencies, compared to 47% of men.
REGULATION TRIGGERS FEARS
Gemini’s report concludes by noting that crypto regulation is one of the biggest issues globally. “Among non-owners, 39% in Asia Pacific, 37% in Latin America and 36% in Europe say there is legal uncertainty surrounding cryptocurrencies,” it says.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 172,236.05 | +2.22% | +10.94% | 168,498.45 | 172,236 | 168,498 | — |
| USD/BRL | 5.51 | +0.04% | +3.33% | 5.51 | 5.51 | 5.51 | — |
| SELIC | 13.75% | — | — | — | — | — | |
| PETR4 | 45.19 | -0.24% | +39.65% | 45.30 | 45.39 | 44.29 | 40,897,000 |
| VALE3 | 66.11 | +3.23% | +1.38% | 64.04 | 66.30 | 64.74 | 20,259,100 |
| ITUB4 | 41.72 | +2.94% | +6.26% | 40.53 | 41.79 | 40.89 | 17,762,100 |
| BBDC4 | 14.68 | +3.38% | -23.06% | 14.20 | 14.68 | 14.34 | 39,079,800 |
| BBAS3 | 17.02 | -0.64% | -25.29% | 17.13 | 17.39 | 16.73 | 41,431,000 |
| B3SA3 | 14.85 | +3.20% | +13.19% | 14.39 | 14.93 | 14.32 | 27,051,000 |
| ABEV3 | 15.61 | +0.84% | +18.44% | 15.48 | 15.68 | 15.38 | 27,548,800 |
| WEGE3 | 50.74 | +5.29% | +11.84% | 48.19 | 50.87 | 48.26 | 16,073,900 |
| PRIO3 | 59.39 | -1.80% | +51.39% | 60.48 | 59.57 | 56.90 | 10,987,900 |
| SUZB3 | 54.20 | +1.50% | +16.06% | 53.40 | 54.32 | 52.30 | 10,985,300 |
| RENT3 | 30.83 | +1.78% | -26.72% | 30.29 | 30.96 | 30.00 | 11,812,400 |
| AZZA3 | 15.12 | +2.44% | -46.31% | 14.76 | 15.32 | 14.84 | 2,774,100 |
| CSNA3 | 4.49 | +1.81% | -45.84% | 4.41 | 4.79 | 4.41 | 32,453,700 |
| GGBR4 | 25.26 | +4.60% | +32.25% | 24.15 | 25.30 | 24.17 | 24,250,400 |
| ENEV3 | 27.40 | +2.09% | +41.60% | 26.84 | 27.62 | 26.90 | 8,949,100 |
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