About 50% of Surveyed Crypto Owners Made Their First Buy in 2021 – Gemini

Nearly half of the surveyed crypto owners made their first crypto purchase last year, according to a survey commissioned by crypto exchange Gemini.

Specifically, some 50% of cryptoasset owners from the US, Latin America, and the Asia Pacific region bought their very first crypto in 2021, the report found.

The opinion poll was carried out between November 2021 and last February, collecting answers from close to 30,000 persons from some 20 countries, per Reuters.

In terms of crypto adoption, Brazil and Indonesia took the two top spots in the world last year, with as many as 41% of the surveyed in each country declaring they owned crypto. The two states demonstrated a crypto adoption rate more than twice as high as the ones reported for the populations in the UK and US, with 18% and 20%, respectively.

Regarding European respondents, 17% said they owned cryptoassets last year, but only 7% of those who do not currently hold crypto declared they aimed to purchase such assets at some point.

Among those who admitted to owning crypto, 79% of the surveyed said they treated their allocations to cryptoassets as long-term individual investments, according to the survey.

For a considerable share of crypto owners, investing in cryptoassets represents a hedge against the surging inflation, with 64% of Indonesian and Indian respondents picking this response. In the US, 16%  of the respondents declare the same use for their crypto investments, and in Europe 15% share this view, as indicated by data from the survey.

The above means that a rising number of individual investors share the view presented last October by Nikolaos Panigirtzoglou and others researchers at the Wall Street investment bank JPMorgan. The bank’s analysis highlighted the increasing embrace of bitcoin (BTC) by institutional investors as a better inflation hedge than gold.

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