A Quarter Of Canadians Now Own Crypto

One in four Canadians (25%) now own some form of cryptocurrency.

A new survey by the Ontario Securities Commission has found that cryptocurrency adoption in Canada is rising. 

In its previous 2023 survey, the Ontario Securities Commission found that only 10% of Canadians owned Bitcoin (CRYPTO: $BTC) or another digital asset. 

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Additionally, the latest survey found that a majority of Canadians (59%) say they are aware of crypto assets.  

Among investors who work with a financial advisor, 39% said their advisor recommended they purchase crypto, nearly double the 19% who said the same three years ago.  

The Ontario Securities Commission said in its new report that crypto appears to be an emerging trend among Canadian investors. 

Still, the survey also found that many respondents misunderstood crypto and how they are regulated, whether they are insured, and how the transactions actually work. 

Nevertheless, more than half of Canadians (52%) now believe that crypto will play a role in the country's financial system in the future, up from 34% in 2023.  

A total of 38% of people who said they're aware of crypto indicated that they were highly likely to buy Bitcoin or another digital asset in the future, an 18-percentage point increase from 2023. 

Lastly, one-third of Canadians (34%) said they had heard of stablecoins, which are cryptocurrencies tied to another asset, typically the U.S. dollar. 

Bitcoin is trading at $64,800 U.S. on July 30.