Cryptocurrency adoption is growing around the world. As a leading cryptocurrency payments company, we strive to offer key statistics to help businesses better understand the cryptocurrency market—how you can reach untapped markets and grow your business.
As of 2023, we estimated global crypto ownership rates at an average of 4.2%, with over 420 million crypto users worldwide.
Date of last update: 16 May 2023
Between 2015 and 2023, the price of Bitcoin has increased by over 173,000%. Bitcoin reached an annual growth rate of 60% in 2021 and the cryptocurrency market is predicted to grow with a compound annual growth rate of 56.4% from 2019 to 2025.
For the latest TripleA Global Crypto Ownership data, TripleA utilized the following metrics: (i) Country Weighted Scoring, (ii) Global Weighted Scoring, (iii) Outlier Research and (iv) Primary Data Collection to obtain the most encompassing and accurate set of statistics in conjunction with the various data sources that we evaluate.
i. Country Weighted Scoring
Our ownership data is derived based on the report “The Chainalysis 2022 Geography of Cryptocurrency Report” in which each country is given a score based on 3 factors:
(1) the country on-chain cryptocurrency value received,
(2) the country on-chain retail value received, and
(3) the Peer-to-Peer exchange trade volume
Our number of users per country estimations are based on Canada’s score and a recent Central Bank of Canada report, which estimates that 5% of the Canadian population own cryptocurrencies. In order to estimated for all the countries, we calculated the correlation between the Chainalysis score (=0.196) and the Central Bank ownership = 5% and then applied the same rationale to other countries’ scores.
ii. Global Weighted Scoring
For reports with findings on global cryptocurrency ownership, our number of users per country estimations are then based on the global data findings from the report. For example, in a recent University of Cambridge report which estimates that 1.83% of the worldwide population own cryptocurrencies, we applied the data across all countries to obtain the cryptocurrency ownership findings.
iii. Outlier Research
For the specified countries: (a) China, and (b) India, in-depth research and data sampling was conducted due to the inherent nature (i.e large population size) of these countries that resulted in less accurate findings based on the above 2 approaches. Data collected from third-party providers and local TripleA data is then evaluated to obtain a more precise figure for the specified countries.
iv. Primary Data Collection
TripleA has recently embarked on market research projects for select countries and we will be gradually expanding the scope of countries. Ownership results from the market research are representative of the national population of each country and are used in the evaluation and benchmarking along with the other methodologies utilizing secondary data sources.
The dataset from TripleA was supplemented with additional research and web scraping using commonly applied methodologies. Furthermore, publicly available data from a variety of sources was used to complement survey data. Utilizing data that are crunched with numerous criterias, various databases and significantly different factors, the processed data and findings are then weighed and analysed against each other based on the following benchmarks (i) Time of Publishing (ii) Scope and Scale of Survey (iii) Internet Penetration Rate for selected big, developing countries (iv) to obtain a finalised ownership number specific to each country. Hence, TripleA believes that our benchmarking study accurately captures the global economic activity in the crypto asset industry.
A total of 16 reports and surveys were included and weighted to derive at our final numbers. These sources include:
The data contained or reflected herein are proprietary of TripleA.