BTC Ownership in Canada Rises Sharply in 2021, Bank of Canada Study Shows 13% of Canadians Own Bitcoin

This week researchers from the Bank of Canada published the cardinal bank’s Financial System Review which highlights 5 cardinal statistic tethered to Canadian bitcoin owners. According to the Bank of Canada’s metrics, 13% of Canadians ain the starring crypto plus bitcoin, and “most Canadians are alert of bitcoin.”

Bank of Canada’s Financial System Review Highlights Bitcoin Ownership Among Canadians

On October 12, 2022, the Bank of Canada published the fiscal institution’s Financial System Review, which highlights immoderate cardinal points tied to the crypto plus ecosystem. A blog post specifically discussing the crypto plus manufacture and markets, successful general, written by Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, and Marcel Voia explains that “large terms corrections are the astir communal incidental reported by crypto plus owners.”

Furthermore, the 5 researchers added that “bitcoin ownership among Canadians accrued sharply successful 2021.” “The stock of Canadians owning bitcoin roseate from 5% successful 2018–20 to 13% successful 2021,” the Bank of Canada’s blog station notes. “This summation occurred pursuing wide increases successful the savings and wealthiness of Canadians during the pandemic.”

While erstwhile studies and this year’s Financial System Review shows astir residents from Canada person heard the word “bitcoin,” the level of knowing is split. Despite this fact, Canada’s cardinal slope “found that 40% of bitcoin owners successful 2021 showed a debased level of bitcoin knowledge, which is simply a higher percent than successful erstwhile years.”

The biggest crushed for owning BTC, retired of 4 antithetic reasons including a deficiency of spot successful government, an concern vehicle, involvement successful caller technology, and a outgo method, was for concern conveyance purposes.

Additionally, successful 2021, 25% of crypto owners reported that they mislaid wealth owed to ample terms fluctuations, which was up 18% since 2019. 9% person had transaction issues, 11% mislaid implicit entree to their cryptocurrency wallet, and 7% reported that their crypto assets were stolen.

Another cardinal metric the Bank of Canada discovered was the information that astir Canadian bitcoin owners clasp tiny fractions. The median magnitude was little than CAD$500 worthy of crypto and 70% of Canadian bitcoin owners held little than CAD$5K worth.

What bash you deliberation astir the Bank of Canada’s findings concerning Canadian bitcoin owners successful 2021? Let america cognize what you deliberation astir this taxable successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Bank of Canada

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