Global crypto ownership rose 34% to 580 million: Crypto.com report

Crypto.com has released its annual Crypto Market Sizing Report, which shows that the number of global cryptocurrency owners increased 34% in 2023 to reach 580 million by end of December 2023.

The crypto exchange noted in a press release published today, January 22, that the crypto industry witnessed growth despite a number of macro headwinds. It included monetary tightening amid efforts to tame inflation, geopolitical conflicts in Europe and the Middle East, and the continued effect of the Covid pandemic. 

As Invezz highlighted in May last year, Asia was one of the regions to see greater crypto adoption levels. Africa and Latin America have also recorded significant growth rates in the past few years.

BTC owners increase to 296M, Ethereum to 124M

According to Crypto.com, the number of Bitcoin holders rose 33% - from 222 million at the start of the year to 296 million in December.

The flagship cryptocurrency, whose price rose significantly throughout the year, accounts for more than half of all cryptocurrency holders. Indeed, BTC holders as of the end of 2023 accounted for 51% of the global crypto ownership numbers, the Crypto.com report showed.

Meanwhile, total global Ethereum owners stood at approximately 124 million, representing a 39% increase in the 12 months to end of December 2023.

ETH owners stood at around 89 million in January that year and the increase pushed global holders for the world’s second-largest cryptocurrency by market cap to 21% of the global crypto ownership numbers. About 40.9% of BTC owners also held ETH as of the time of the research.

Developments that also contributed to the increase in global crypto ownership included Ethereum’s Shanghai upgrade, anticipation of the spot Bitcoin ETF approval and spike in Bitcoin Ordinals. The monthly growth rates for April and May 2023 was 5.1% and 6.7% respectively.

Read Crypto.com's full report here.