Turkey and Argentina, both saw the largest jump in Crypto ownership last year and both were countries with hyper-inflation and an incompetent government.

2022 for many may be the year of the big bear market and one would think that in a year where Crypto nose-dived 70%, there would be nothing positive to talk about. But here you are foolish, even 2022 was one of the maybe even THE best year for mass adoption of Crypto. Here we have a look at the astronomical increases in Crypto ownership data:

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Chart from Reuters, showing Crypto Ownership data

The Changes

We can see how we two new kings at the top of crypto ownership data, after the Philippines and Thailand dominated the year 2021 with roughly 20% in crypto ownership each, now Argentina and Turkey have taken the crown. Both countries have one thing common since 2022 that we all now, hyper-inflation. The inflation of the Turkish Lira sits at 72% roughly, while the Argentine inflation had even surpassed 100% this year. More than that, both countries also have a corrupt government that is not of any help for their citizens, but is just feeding their own pockets.

Two more surprising candidates may be the UAE and Portugal. For the UAE the crypto ownership increased from just above 10% to now 19.6% and for Portugal it even increased form under 10% to 17.6% now. All that in the year of the big bear market, 2022.

Conclusion:

With that the global average Crypto ownership also increased to 11.6%, which is a very big amount and even more impressive to happen in a year of such a brutal Bear Market. It is even better that especially countries with high inflation seem to be adopting Crypto, very likely as a hedge against the inflation. Whether hedge or not, it is good to see that Crypto could help the people that needed it the most.