Over half a million people own cryptocurrency in Ontario, Canada, according to the Ontario Securities Commission. The report published by the Commission last week shows that 5% of Ontario’s population currently own cryptocurrency, while another 4% owned some in the past.
“Five percent of Ontarians currently own cryptoassets. Based on recent population estimates, this figure translates into over 500,000 Ontarians currently holding at least some cryptoassets. An additional 4 percent of Ontarians owned cryptoassets in the past but no longer do.”
The report also shows that half of those currently holding cryptoassets spend less than $1000 on them. Around 50,000 Ontarians spend more than $10,000. The majority (90%) hold cryptocurrency worth less than $10,000. Interestingly – 13% of those who own cryptocurrencies, did not spend any money on them, according to the report.
“Men aged 18-34 were substantially more likely to report owning a cryptoasset than the general public, with 14 percent reporting that they currently own a cryptoasset.”
The report entitled “Taking Caution: Financial Consumers and the Cryptoasset Sector.” was based on a survey carried out between 14th and 22nd March. 2667 people aged 18 and over participated in the research.
What do you think about the numbers shown in the report? Share your thoughts in the comments below!