According to the report published by investment consultancy company Henley & Partner, it was stated that more than half of Generation Z is involved in the crypto sector.
Henley & Partners, which conducts a worldwide research on the crypto industry, revealed striking data. In line with the main information cited by the investment advisory, 425 million people are using cryptocurrencies. Additionally, it was stated that more than half of Gen Z (18-25 years old) invested in cryptocurrencies.
Bitcoin, the favorite of crypto millionaires!
In light of the report shared by the firm, it is stated that 88,200 people own at least $1 million worth of crypto assets. This statistic is less than 1 percent of general crypto users. About 40,500 of crypto millionaires invest in Bitcoin. In short, close to 46 percent clearly prioritize Bitcoin.
The number of investors thought to hold more than $100 million worth of crypto assets is less than previously thought. There are only 182 such investors, and it is stated that 78 of them are focused on Bitcoin. Also, 22 people own at least $1 billion worth of crypto assets. Six of them keep their investments in Bitcoin only. This ratio is much smaller than it is among crypto millionaires and centimaires.
What’s happening in crypto worldwide?
In a statement released alongside the report, Henley & Partners explained that the index is designed to show “investment transition program options on behalf of crypto investors.”
Singapore topped the overall index, followed by Switzerland in second place and the United Arab Emirates in third place, with the US and UK in fifth and seventh place respectively. Among the other top 10 countries, Canada, Malta and Malaysia took the eighth, ninth and tenth rank, as well as Australia, which ranks sixth.
Both Singapore and the UAE received top marks for their tax-friendliness for crypto investors. In this category, the USA and the UK were far behind and took place outside the top 10. However, the adoption and interest of the public in the crypto industry is high in both countries. The USA is in third place in this category, while the UK is in fourth place. UAE and Singapore again top the list, ranking first and second respectively.
The USA and the UK also managed to take the top rank in some categories. The US has topped the adoption of many topics such as crypto ATMs, digital asset exchanges, integration of banks with cryptocurrencies. The UK tops the innovation and technology category.
Investing in cryptocurrencies has become very popular, especially during the Covid-19 pandemic, when retail trading practices are booming. However, economists and investment advisors continue to urge caution as cryptocurrencies are viewed as a highly volatile asset that can lose value quickly, and many countries have yet to regulate crypto investment and trading or companies in the crypto space.
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