14 Aug 2023

Cryptocurrencies: A trillion-dollar market

Ten years ago, the concept of cryptocurrencies was a nascent and largely unproven technology, with their collective value teetering close to zero. Fast forward to the present day, and the crypto landscape has undergone a staggering transformation.
Crypto market cap chart August 14 2023 SVG
Source: CoinGecko
Today, all cryptocurrencies boost a cumulative worth of more than $1,200 billion. This exponential surge in value has propelled cryptocurrencies from the fringes of the financial world into relevancy.
Almost half a billion people own crypto
The pseudonymous nature of crypto makes it hard to know how many own cryptocurrencies. A recent survey estimated that over 420 million people own crypto. The Americas has the highest frequency of crypto owners, especially in the U.S., where more than 10 percent of the population owns crypto. The highest number of crypto owners is in the populous Asia region, while Africa has the lowest crypto penetration rate. It should still be noted that crypto is hugely popular in certain parts of Africa.
420 million crypto owners map SVG
Source: Triple-A
In tandem with the growing popularity of cryptocurrencies, a specialized industry has risen. While still small in the larger picture, crypto’s rapid rise and potential make this an industry to monitor going forward. In our report, The Emerging Crypto Industry, we present the current state of the crypto industry, including estimates for the number of people working with crypto and geographical breakdowns.
Share this article