Executive summary
- 2.18 million people in the Nordics own cryptocurrency, equating to 9.6% of the adult population. Nordic crypto ownership grew by 635,000 owners in the past year.
- While most crypto owners remain young, we have seen a significant increase in ownership ratios across older age groups. We attribute this to institutional, political, and regulatory tailwinds over the past year.
- Only 23% of Nordic crypto owners are female. Roughly one third of crypto investors in Norway and Iceland are female, compared to one fifth of crypto investors in Sweden, Finland and Denmark.
- The number of Nordic crypto owners is set to grow. Survey responses indicate that 6.4 million people in the Nordics will own crypto within 10 years.
- A majority of Nordic crypto investors have invested small sums, with $100-1000 being the most common exposure. Nonetheless, we estimate total Nordic crypto wealth to $16.7bn, equivalent to 0.6% of the total crypto market cap.
Nordic Comparison
- Norway has the highest crypto ownership rate, but Sweden has the most crypto owners.
- Demographics among crypto owners are similar in the Nordic countries. Crypto owners tend to be young and male, while all countries sees growing adoption among older cohorts.
- There are big gender variations across the Nordics, with Norway leading both measured in relative ownership rates and absolute ownership figures.
- Finns and Danes are more open to buying crypto in the future compared to the rest of the Nordics. A staggering 55.5% of Finland’s population aged 59 or younger believe they’ll own crypto within the next decade.
- The are some differences in where people buy or sell cryptocurrencies in the Nordics. Norwegians, Finns, and Icelanders are the most likely to use local exchanges, Danes are the most frequent users of international exchanges, and Swedes use exchange-traded products the most.
