Despite the ongoing regulatory struggles, the cryptocurrency adoption rate has increased. As of January, the global crypto ownership rate surged over 420 million at an average of 4.20%.
In the geographical context, the study reported that North America has 54 million crypto owners whereas South America has 33 million. The European continent accounts for 31 million owners and Africa has 38 million holders. Now Australia has 15 million owners whereas the largest continent Asia has 260 million owners.
The United States is considered to be one of the countries with the highest number of crypto enthusiasts worldwide and around 46 million people own crypto. Sources count on factors like the widespread adoption of blockchain technology, the increasing number of crypto-friendly businesses, etc to be one of the major forces that have fueled the surge.
Following the US is India which has 27 million owners and Pakistan in third place with 26 million owners. Nigeria and Vietnam take fourth and fifth spots with 22 million and 20 million owners respectively.
Another report by Cryptobetting, a platform for crypto sports betting, revealed the individual interests of American states in cryptocurrencies. Following is a chart showing the interest of respective states in cryptocurrencies.
As the chart shows, Nevada took that first spot in accounting for a state with the most interest in digital assets. Nevada scored highly when searching for cryptocurrency terms, websites, apps, prices, news, and advice in 2023, per capita.
Reportedly, Nevada has implemented several blockchain-friendly regulations and has been working to attract crypto and blockchain firms. Sources reveal that in 2019, Nevada became the first state to recognize blockchain technology in its legal code.
It is important to note the state is home to several cryptocurrency and blockchain-related companies including Blockchains LLC, a company developing a “smart city” built on blockchain technology, and Bitcoin ATM provider CoinCloud. Many companies have a significant presence in Nevada and it is going to continue to be a hub for innovation in this space.
After Nevada, California and New York also accounted for the following two places, respectively, with proportional population searches just below 1,900 per 100,000 individuals. Unsurprisingly, the search volume for crypto-related terms in these states is increasing.
These two states are among the largest states in the country and are also centers of innovation and finance. California is home to Silicon Valley, known for its tech firms and startups. Many of these companies are involved in developing blockchain technology and crypto. Additionally, California is a hub for venture capital investment, and many investors are interested in funding crypto-related projects.
On the other hand, New York is a financial hub, with many of the world’s largest financial institutions headquartered in the city. Hence, many investors and financial professionals in New York are interested in cryptocurrencies as a new asset class.
A member of the researching team said:
Cryptocurrencies kicked off 2023 with their highest levels in months. Cryptocurrency offers freedoms from traditional financial infrastructure, and with its constant development, it’s fascinating to keep up to date with the places taking the largest interest in this area.
There have been several reports citing the interest of Americans in cryptocurrencies. Todayq News published a report titled “Crypto Investment Literacy” by Toluna, a research firm, which revealed that the investors in North America have been least concerned about researching before investing. About 64% of North American investors spend less than two hours or don’t do any research at all before making a crypto investment.