South America - the region with the highest growth in crypto holdings

An estimated 562 million people hold some type of cryptocurrency in 2024, which is equivalent to 6.8% of the global population.

With the price of Bitcoin more than doubling this year, global cryptocurrency holdings have risen by 33% compared to 2023, according to an analysis by visualcapitalist.com. Over the past year, every global region has seen increases in profile holdings, amid increasing investor confidence and supportive regulatory environments.

The cited source mentions, based on Triple-A data, that South America has seen the strongest growth in crypto holdings, of 116.5% from 2023 to date. Last year, 25.5 million people in South America held such holdings, and in 2024, the figure is 55.2 million.

In the region, Argentina has the most crypto holdings, at 18.9% of the population, as the country struggles with persistent hyperinflation. Brazil follows with a 17.5% holding rate, supported by several regional crypto exchanges and strong regulation.

Similar to South America, the number of people with crypto holdings in Oceania more than doubled between 2023 and 2024 (+114.3%), to 3 million, from 1.4 million. In Australia, initial deposit values among retail investors have fallen by 15% on the country's crypto exchange BTC Markets since 2023, but these values have increased by 189% for non-retail investors.

In North America, a region buoyed by the approval of Bitcoin and Ethereum ETFs in the US in early 2024, crypto holdings rose 38.6% on strong investor demand to 72.2 million from 52.1 million. Of the top ten corporate holders of bitcoin, seven are based in the US. Moving forward, BlackRock's Bitcoin spot ETF is the fastest-growing ETF in history, reaching $50 billion in assets in just over nine months.

Since President Trump's election victory, investor enthusiasm has grown on expectations of a crypto-friendly administration.

According to the cited source, more than half of cryptocurrency owners worldwide are in Asia (326.8 million, up 21.8% from 268.2 million in 2023). Nearly a quarter of Singaporeans own crypto, making the country the world's leading cryptocurrency adopter. This high level of adoption is being driven by government initiatives, significant investment, and major banks adopting cryptocurrencies, according to the source.

In Europe, there are 49.2 million cryptocurrency holders, up 60.3% from 30.7 million in 2023. In Africa, the number of holders is 43.5 million, up 8.5% from 40.1 million in 2023.

• Bitcoin surpasses $106,000

Bitcoin prices surged past $106,000 on Monday after US President-elect Donald Trump suggested he was considering establishing a US strategic reserve of Bitcoin, similar to the strategic oil reserve, fueling the excitement of those betting on the rise of cryptocurrencies, according to Reuters.

Bitcoin, the world's most important and well-known cryptocurrency, rose to a record high of $106,533 on Monday morning, and was trading at $103,917 at around 12:15 GMT, Agerpres notes.

"The next figure the market is looking at is $100,000. The comeback that many were expecting simply didn't happen, because we have this news," says Tony Sycamore, an analyst at IG.

Bitcoin and cryptocurrencies have been in the spotlight as investors bet that the new Trump administration will create a friendly regulatory framework, which is increasing interest in the alternative currency.

"We're going to do something great with cryptocurrencies because we don't want to be overtaken by China or other countries that are embracing cryptocurrencies. We want to be at the forefront," Trump told CNBC late last week. Asked if he plans to create a cryptocurrency reserve similar to the oil reserve, Trump said, "Yes, I think so."

According to data provider CoinGecko, as of July this year, governments around the world held 2.2% of the total supply of Bitcoin, and the United States holds nearly 200,000 bitcoins, worth more than $20 billion at current prices. Other countries with significant amounts of Bitcoin include China, the United Kingdom, Bhutan and El Salvador.

Bitcoin has surged more than 50% since the November 5 election, which saw Trump win alongside many other pro-crypto candidates.

The total value of cryptocurrencies has nearly doubled this year, reaching a record $3.8 trillion, according to CoinGecko.

Trump, who once called cryptocurrencies a scam, embraced digital assets during his campaign, when he promised to make the United States the "crypto capital of the world."

Earlier this month, Trump named former PayPal CEO David Sacks, a close friend of Elon Musk, the future US president's adviser and top campaign contributor, to the White House's role as head of artificial intelligence and cryptocurrencies. Trump also promised to nominate lawyer Paul Atkins, known for his pro-crypto stance, to the position of chairman of the US Securities & Exchange Commission (SEC).