580 million people own Bitcoin and other crypto

Crypto adoption is on the rise. This is according to a report by Crypto.com By 2023, more than half a billion people will have invested in Bitcoin and other cryptocurrencies.

More and more people are buying cryptocurrency. That's the conclusion of a new report from exchange Crypto.com. The result: about 580 million people invested by 2023. This means that nearly 34 percent of new investors have entered the market over the past year. In January 2023, there were still 432 million investors.

Despite the rather difficult macroeconomic conditions caused by, for example, significant interest rate increases, the number of new investors has continuously increased.

The report cites two key factors for the growth in adoption. First, Ethereum's Shanghai update, which allowed the withdrawal of stacked ETH. According to Crypto.com, the number of new investors in the second-largest cryptocurrency grew 39 percent to currently 124 million. Second, the price rally in anticipation of the admission of Bitcoin Spot ETFs in the US. Here alone, new investors were up 33 percent by December last year (296 million people).