Global Crypto Adoption Achieves New Milestone in 2022

Global Crypto Adoption Achieves New Milestone in 2022

A new Crypto.com report reveals crypto adoption achieved a new milestone in 2022. Global crypto owners reached 425 million in December last year. The report reveals that the number of bitcoin owners reached 219 million, while the number of ethereum owners reached 87 million.

Crypto Ownership Has Increased by 39% Globally

Crypto.com published a report titled "Crypto Market Sizing" for the year 2022 last week. The company explained that its analysis is based on a combination of bitcoin and ethereum on-chain data, survey analysis, and internal data.

The firm’s Research and Insights team mentions that "despite macro headwinds," namely high inflation, the conflict in Europe, supply chain disruptions, and the lingering effects of the COVID-19 pandemic:

"Crypto adoption in 2022 achieved new milestones, with the number of crypto owners reaching 425 million in December 2022."

The total number of crypto owners increased by 39% globally, from 306 million to 425 million, during the year, according to the report.

The report also highlights the number of bitcoin and ethereum owners, stating:

"Bitcoin (BTC) owners increased by 20% from 183 million in January to 219 million in December, accounting for 52% of global owners."

The highest growth for bitcoin ownership in 2022 was recorded in April when the Central African Republic (CAR) became the second country in the world to adopt cryptocurrency as legal tender after El Salvador, it is reported. The global investment bank Goldman Sachs offering its first BTC-backed loan in the same month showed "further signs of increased interest in crypto from Wall Street institutions," the Crypto.com research team details.

263% Increase in Ethereum Ownership

The report mentions that "Ethereum (ETH) ownership increased by 263% from 24 million in January to 87 million in December, accounting for 20% of global ownership." The report further adds that "the main catalyst behind Ethereum’s high adoption growth rate was The Merge." The research team also underlines that "Ethereum’s monthly growth rates were higher than Bitcoin’s during the whole year except April."

Another company that has recently estimated the total number of global crypto owners is Triple A. The firm has revealed, "As of 2023, we estimated global crypto ownership rates at an average of 4.2%, with over 420 million crypto users worldwide."

What is your take on the number of global crypto owners reaching 425 million? Please post your comments.