According to a recent report, only a small percentage of cryptocurrency buyers hold millions of dollars’ worth of assets. While cryptocurrency remains a popular investment, with 425 million people holding crypto worldwide, only 88,200 individuals own at least US$1 million (RM4.68 million) in crypto. This represents less than 1% of all crypto users. Half of these individuals hold this amount in Bitcoin, highlighting its popularity.
There are even fewer centi-millionaires and billionaires in the crypto world. Reportedly, there are 182 crypto centi-millionaires, with 78 of them owing their status to Bitcoin holdings. Additionally, there are believed to be 22 crypto billionaires, including six Bitcoin billionaires. However, these figures should be viewed cautiously due to the highly volatile nature of digital currencies.
Investors are drawn to crypto assets due to the potential for quick profits and a distrust of traditional banking systems. However, interest in cryptocurrencies varies across age groups and countries. Singapore leads in the Global Crypto Adoption Index by Henley & Partners, followed by Switzerland, the United Arab Emirates, Hong Kong, and the United States. Countries like Australia, Canada, Austria, and Portugal have embraced cryptocurrencies more than France or Belgium.
The adoption of cryptocurrencies is not limited to economically advanced countries; emerging countries facing economic challenges, such as Malaysia, Thailand, and Antigua and Barbuda, have also seen the growth of digital assets.
Many countries that are welcoming to cryptocurrencies offer favorable tax regimes for crypto owners. However, some countries, like Portugal, heavily tax capital gains on cryptocurrency investments.
Overall, while cryptocurrency remains a widespread investment, only a limited number of individuals hold significant amounts of wealth in this sector. The popularity of Bitcoin as a crypto asset is evident, and interest in cryptocurrencies is influenced by various factors such as age group and country.
Note: The content of this article is sourced from a news agency, and it should be treated as general information only.
Credit: The Star : News Feed
