A fifth of Brits own crypto after ‘transformational’ year, study finds
Almost a fifth of Brits own digital assets following an explosion of interest in the crypto space last year fresh figures reveal.
In the UK 18 per cent of adults own crypto with 40 per cent of European crypto holders admitting they started to invest in 2021, a study by exchange Gemini has revealed. London is the crypto capital of the UK with 23 per cent of adults holding digital assets, it was trailed by the North West of the country where 12 per cent of adults invest.
“Last year was transformational for cryptocurrency ownership, with significant growth in UK adoption. A high proportion of UK investors see crypto as a long-term store of value, suggesting more people are recognising crypto’s part to play in a diversified investment portfolio,” commented Blair Halliday, the Head of Gemini UK.
While adoption is on the rise in the UK barriers still stand in the way of mass adoption. A lack of regulatory certainty was cited as a reason to shy away from digital assets by 36 per cent of non owners.
The study found that countries with 50 per cent or more devaluation against the dollar over the past 10 years were five times more likely to say they plan to purchase crypto in the current year. Crypto adoption is most advanced in developing economies with 41 per cent of Indonesian and Brazilian adults investing in digital assets, according to research commissioned by Gemini and carried out by Data Driven Consulting Group.
Read more: Tech Weekly: Investment boom in rapid grocery, and FCA gives breathing space for UK crypto firms