The year 2022 saw a major leap forward for cryptocurrency adoption, with Crypto.com revealing an eye-popping 425 million owners at the end of the year. Bitcoin and ether, the two most popular coins, saw ownerships surge to 219 million and 87 million respectively. What a year!
Cryptocurrency Reaches New Heights; Plenty of Reasons to Celebrate!
Last week, Crypto.com released its “Crypto Market Sizing” report for 2022, and it’s got heads spinning! Combining Bitcoin and Ethereum data, survey information, and their own expertise, the Research and Insights team set out to explore the number of global crypto owners, even in the face of tough market headwinds such as inflation, conflict in Europe, supply chain disruptions, and the Covid-19 aftershock. Tough stuff, but here’s the kicker: Despite macro headwinds, the outlook is still looking up for the crypto marketplace!
The number of crypto owners globally rocketed by an impressive 39% in a year – from 306 million to an impressive 425 million! That’s quite the growth spurt! In April of 2022, the Central African Republic (CAR) made history when it became the second country to adopt Bitcoin as a legal tender. This monumental action marked the strongest growth for Bitcoin ownership that year. Global investment bank Goldman Sachs documented the event by offering its first-ever BTC-backed loan, showing “clear signs of increased interest in cryptocurrency from Wall Street institutions”, according to Crypto.com’s research team.
Ethereum (ETH) also had an impressive year; ownership skyrocketed 263%, as seen in its leap from 24 million holders in January to a whopping 87 million by the end of the year! It now accounts for 20% of global owners. The Merge was the main driver for the increased Ethereum adoption rate, which even exceeded Bitcoins in most months (apart from April).