Cambridge – 100mln People Deal in Crypto Assets Worldwide
Academics at the Cambridge Centre for Alternative Finance have mentioned that currently 100 million people across the globe hold Bitcoin (BTC) and other blockchain related assets.
Two years back, the second Global Cryptoasset Benchmarking Study, based on research, arrived at a conclusion that the number of identify confirmed cryptocurrency users is roughly 35 million worldwide.
Nearly 191 million accounts have been opened in cryptocurrency exchanges across the globe, as of 3Q20. The estimate does not include wallets that are self-hosted.
The researchers explained the significant increase:
“This 189% increase in users may be explained by both a rise in the number of accounts (which increased by 37%), as well as a greater share of accounts being systematically linked to an individual’s identity, allowing us to increase our estimate of minimum user numbers associated with accounts on each service provider.”
The study also underlines the geopositioning of consumers, as cryptocurrency exchanges functioning from North America and Europe “report higher user activity, with the median firm indicating that 40% of total users are considered active.”
As per the academics, the figure was extremely low for Lain-American and APAC firms, which posted a rate of 16% and 10%, respectively.
The Centre’s strategy has concatenated survey and public data, utilizing a combo of validated user info and the average proportion of ID-confirmed accounts taken for study.
In spite of claims by academics that there are restrictions to the study approach, there is a belief that the published figures provide “a reliable, approximate figure of the total number of crypto asset holders globally.”