Despite the volatile market conditions, cryptocurrency investors remain steadfast, with ownership maintained or increasing in key global regions. The “State of Global Cryptocurrency 2024” survey provides a comprehensive look at the continued commitment of cryptocurrency investors in uncertain times.
The survey highlights strong commitment from investors in the US, UK, France and Singapore.
Retail Crypto Investors Don't Sell
In the US, 21% of adults reported owning cryptocurrency, the same number as the previous year. Similarly, 18% of UK residents hold digital assets.
In France, cryptocurrency ownership rose from 16% in 2022 to 18% this year. But in Singapore , it fell from 30% to 26%.
These figures are supported by a clear motivation – long-term investment potential. Around 65% of cryptocurrency owners in these countries buy and hold cryptocurrencies with an eye on the future. In addition, 38% see digital assets as a hedge against inflation , showing a strategic approach to this volatile market.
Read more: 11 cryptocurrencies to add to your portfolio before altcoin season
The resilience of crypto enthusiasts goes beyond ownership. According to survey data, fewer investors have sold assets in the past six months than those who sold a year ago. In Singapore, only 10% of those who sold recently, compared to 49% who sold more than a year ago, indicating a shift toward a more bullish market outlook.
Also, those who have exited the market are ready to reinvest. More than 70% of former cryptocurrency owners are considering reinvesting in the next year, driven by a positive outlook for the asset class. 57% of current owners are confident enough to make cryptocurrencies a significant part of their investment portfolio, while 27% of former owners are likely to re-enter the market soon.
Another survey, from CoinGecko, also supports these results, showing that 54.1% of investors are optimistic about the long-term potential of the market. While some are pessimistic (31.6%), a significant portion of builders (47.6%) remain bullish, indicating a strong belief in the sustainability of cryptocurrencies.
Spot Bitcoin ETFs have attracted new investors to the ecosystem. Nearly two-fifths of U.S. cryptocurrency owners hold part of their portfolio in a cryptocurrency ETF, and 13% own crypto solely through these funds.
“As we enter the final months of 2024, there are two key growth opportunities for the cryptocurrency industry: re-engaging those who left the market during crypto winter and attracting those who have not invested in digital assets,” the survey said.
Read more: How to Trade Bitcoin ETFs: A Step-by-Step Approach
Additionally, with the 2024 US presidential election approaching, cryptocurrencies have emerged as a major election issue . A significant majority of US respondents (73%) plan to consider a candidate’s stance on cryptocurrencies in their voting decisions. Importantly, 37% said it would have a significant impact on their choice.
“Donald Trump is ahead by 6% on Polymarket. If he wins the election, Bitcoin bulls will return,” Crypto Rover said .
