Bitcoin adoption BankofCanada BTC 13% of Canadians hold Bitcoin, says Bank of Canada
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The release of multiple cryptocurrency investment products by fintech companies helped on the adoption front as it “provided customers with a wider range of accessible and user-friendly platforms to buy Bitcoin.” The preferred method of purchasing Bitcoin was via mobile applications.
While the number of Canadians who hold Bitcoin is on the rise, the study showed that their holdings are relatively small, with the median amount of BTC held in 2021 standing at Can$500 and 70% of Canadian hodlers owning the equivalent of Can$5,000 or less.Long-term owners tended to have larger holdings as they reaped the benefit of the significant run-up in price that occurred in 2020.
Additionally, 11% of crypto holders also reported losing access to their wallets, 9% said they encountered a problem when conducting a crypto transaction, and 7% reported stolen funds.
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