The number of BTC holders in Canada doubled in 2021
Despite the decline in the capitalization of the cryptocurrency market, this industry continues to grow and expand. According to Canadian regulators, the number of BTC holders in the country has doubled in 2021.
The Central Bank of Canada has published the results of a survey of crypto investors conducted in the country. It turned out that last year 13% of Canadians invested in bitcoin. A year earlier (2020), this figure was at the level of 5%.
The average investment was $500. Cryptocurrency was mainly used for trading, and not as a payment method. An obstacle to wider adoption, according to experts, is the high volatility of digital assets.
In 2021, this indicator for cryptocurrencies was 4-5 times higher than for the traditional investment market (S&P 500). This can lead to a sudden loss of funds.
Also, from a study conducted by the Bank of Canada in April, it became known about the low level of literacy among the majority of crypto investors in the country. This makes them vulnerable to financial risks.
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