Gemini, the famous cryptocurrency exchange run by the Winklevoss twins, has conducted a large-scale survey into crypto ownership revealing that roughly 50% of crypto owners joined the market last year.

The survey indicates that the countries with high inflation most often lead in cryptocurrency adoption with the devaluation of some fiat currencies prompting some people to search for cryptocurrency alternatives.

In Indonesia and Brasil approximately 41% of residents have already purchased cryptocurrency assets. The study revealed 64% of Indonesians view cryptocurrency as a hedge against inflation despite the associated volatility of crypto assets.

Perhaps unsurprisingly, there is less of an appetite for the perceived risk of cryptocurrencies in countries with more stable fiat currencies. In the UK only 18% of respondents revealed they own cryptocurrencies and only 15% of Europeans saw cryptocurrencies as a viable hedge against inflation.

Just 7% of Europeans surveyed who do not have cryptocurrencies plan to buy them in the future. In the USA, around 20% of those surveyed own cryptocurrencies.

This survey indicates just how early into cryptocurrency adoption we are and how much is still to come. Anyone who has invested in cryptocurrency now will surely reap the rewards for decades to come.

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