The Bitbuy Brief: What Percent Of Canadians Own Crypto? 🇨🇦

Issue 147: What Percentage Of Canadians Own Crypto?

August 19th, 2021

Weekly Market Recap

Analysis: Crypto’s total market cap is currently above USD $2 Trillion for the first time since May.

The rebound over the past few weeks has surprised speculators, who thought China’s mining crackdown would hurt the market long-term and possibly push into another crypto-winter.

XRP led the way of the coins available on Bitbuy with a 20% gain on the week.

Survey Says: 28% Of Canadians Have Crypto

Hardbacon, a Canadian media and financial tech company, recently conducted a survey among adults in Canada to measure their thoughts on cryptocurrency and other financial topics.

In what may come as a shock to the people at your next dinner party, over a quarter of Canadians, or 28.3% of the participants, answered that they have indeed purchased cryptocurrency or had “exposure” to it.

Of those who have purchased cryptocurrency, over 85% had some of the world’s most popular coin, Bitcoin.

As for Canada’s homegrown Ethereum? 75% of the respondents said they had exposure.

While the ownership numbers seem high, the investor confidence in crypto still has a long way to go.

Only 5% of respondents said that they believe that investing in digital currencies is a safe plan, whereas 21% polled said buying stocks was more secure.

It seems investors in Canada still believe government bonds are the way to ‘play it safe’, with 85% reporting that they believe it’s a safe way to store your money.

Who do Canadians trust most for investing?

Of the top 5 brands that Canadians say they trust for investing, 4 of the 5 top answers in the survey were Canadian success stories.

The survey found that Royal Bank, TD, Apple, Shopify, and Questrade were the top 5 most-trusted brands for Canadian investors.

Although some of these brands have rumoured crypto tie-in’s coming, none have officially made the leap.

Other Headlines & News

Crypto Market Tops $2 Trillion For The First Time in Nearly 3 Months as Bitcoin Rallies – CNBC

Crypto Adoption Shifts to Emerging Markets as China, US Drop in Chainalysis Global Rankings – Coindesk

Crypto Platform Hit by $600 Million Heist Asks Hacker to Become its Chief Security Advisor – CNBC

Ethereum Co-creator Vitalik Buterin Will Help Shape The Future of Dogecoin After Joining The Token’s Foundation – Markets Insider

Facebook Says it Wants a ‘Fair Shot’ in The Crypto Payments Sphere – The New York Times

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