Cryptocurrency Ownership Hits 562 Million, 34% Annual Growth

The global adoption of cryptocurrencies has reached a new milestone in 2024, with a report by Triple-A revealing a surge to 562 million owners — a 34% increase from 2023.

This impressive growth signifies the expanding reach of digital currencies, now owned by approximately 6.8% of the global population.

Global Trends in Cryptocurrency Adoption

Asia leads the surge with a 21.8% increase in ownership, rising from 268.2 million to 326.8 million. North America follows with a 38.6% rise, from 52.1 million to 72.2 million. South America experienced the most dramatic growth, with ownership soaring by 116.5%, from 25.5 million to 55.2 million.

Europe and Africa also saw substantial increases. Europe rose from 30.7 million to 49.2 million, a 60.3% increase. Africa grew from 40.1 million to 43.5 million, an 8.5% rise. Oceania’s interest in cryptocurrencies more than doubled, from 1.4 million to 3.0 million, a 114.3% increase.

The report also highlights the demographic composition of cryptocurrency owners . The largest group falls within the 25-34 age range, comprising 34% of the total. The 35-44 age group follows closely at 31%. Additionally, the gender gap remains notable, with 61% of owners being male and 39% female.

“The rise in cryptocurrency adoption in 2024 is more than just a number; it shows a big shift in how people around the world handle money, driven by a desire for a new and efficient way to move money across the globe,” Eric Barbier, CEO of Triple-A, comments.

Regulatory bodies like the Monetary Authority of Singapore (MAS) and the European Union have set clear guidelines, boosting market integrity and investor confidence. This regulatory clarity plays a crucial role in the rising cryptocurrency adoption.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

“Clear regulation, investment, education, global collaboration, and a deep understanding of the power of digital currencies are crucial in driving and strengthening the symbiosis between modern and traditional payment systems,” Barbier states.

Regulatory frameworks are evolving, and technological advancements are making cryptocurrencies more accessible, driving the trend of increasing ownership. This ongoing growth shows no signs of slowing down and indicates a promising future for digital assets’ integration into mainstream financial practices.