{"id":234,"date":"2022-10-15T12:09:39","date_gmt":"2022-10-15T12:09:39","guid":{"rendered":"https:\/\/live-script.xyz\/btc-ownership-in-canada-rises-sharply-in-2021-bank-of-canada-study-shows-13-of-canadians-own-bitcoin\/"},"modified":"2022-10-15T12:09:39","modified_gmt":"2022-10-15T12:09:39","slug":"btc-ownership-in-canada-rises-sharply-in-2021-bank-of-canada-study-shows-13-of-canadians-own-bitcoin","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/btc-ownership-in-canada-rises-sharply-in-2021-bank-of-canada-study-shows-13-of-canadians-own-bitcoin\/","title":{"rendered":"BTC Ownership in Canada Rises Sharply in 2021, Bank of Canada Study Shows 13% of Canadians Own Bitcoin"},"content":{"rendered":"

This week researchers from the Bank of Canada published the central bank\u2019s Financial System Review which highlights five key statistics tethered to Canadian bitcoin owners. According to the Bank of Canada\u2019s metrics, 13% of Canadians own the leading crypto asset bitcoin, and \u201cmost Canadians are aware of bitcoin.\u201d<\/strong><\/p>\n

Bank of Canada\u2019s Financial System Review Highlights Bitcoin Ownership Among Canadians<\/h2>\n

On October 12, 2022, the Bank of Canada published the financial institution\u2019s Financial System Review<\/a>, which highlights some key points tied to the crypto asset ecosystem. A blog post<\/a> specifically discussing the crypto asset industry and markets, in general, written by Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, and Marcel Voia explains that \u201clarge price corrections are the most common incident reported by crypto asset owners.\u201d<\/p>\n\n

Furthermore, the five researchers added that \u201cbitcoin ownership among Canadians increased sharply in 2021.\u201d \u201cThe share of Canadians owning bitcoin rose from 5% in 2018\u201320 to 13% in 2021,\u201d the Bank of Canada\u2019s blog post notes. \u201cThis increase occurred following widespread increases in the savings and wealth of Canadians during the pandemic.\u201d<\/p>\n\n

While previous studies and this year\u2019s Financial System Review shows most residents from Canada have heard the term \u201cbitcoin,\u201d the level of understanding is split. Despite this fact, Canada\u2019s central bank \u201cfound that 40% of bitcoin owners in 2021 showed a low level of bitcoin knowledge, which is a higher percentage than in previous years.\u201d<\/p>\n

The biggest reason for owning BTC<\/a>, out of four different reasons including a lack of trust in government, an investment vehicle, interest in new technology, and a payment method, was for investment vehicle purposes.<\/p>\n

Additionally, in 2021, 25% of crypto owners reported that they lost money due to large price fluctuations, which was up 18% since 2019. 9% have had transaction issues, 11% lost complete access to their cryptocurrency wallet, and 7% reported that their crypto assets were stolen.<\/p>\n

Another key metric the Bank of Canada discovered was the fact that most Canadian bitcoin owners hold small fractions. The median amount was less than CAD$500 worth of crypto and 70% of Canadian bitcoin owners held less than CAD$5K worth.<\/p>\n

What do you think about the Bank of Canada\u2019s findings concerning Canadian bitcoin owners in 2021? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"

This week researchers from the Bank of Canada published the central bank\u2019s Financial System Review which highlights five key statistics tethered to Canadian bitcoin owners. According to the Bank of Canada\u2019s metrics, 13% of Canadians own the leading crypto asset bitcoin, and \u201cmost Canadians are aware of bitcoin.\u201d Bank of Canada\u2019s Financial System Review Highlights […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nBTC Ownership in Canada Rises Sharply in 2021, Bank of Canada Study Shows 13% of Canadians Own Bitcoin - Latest Cryptocurrency & blockchain News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/live-script.xyz\/btc-ownership-in-canada-rises-sharply-in-2021-bank-of-canada-study-shows-13-of-canadians-own-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTC Ownership in Canada Rises Sharply in 2021, Bank of Canada Study Shows 13% of Canadians Own Bitcoin - Latest Cryptocurrency & blockchain News\" \/>\n<meta property=\"og:description\" content=\"This week researchers from the Bank of Canada published the central bank\u2019s Financial System Review which highlights five key statistics tethered to Canadian bitcoin owners. 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