On Thursday (2024/09/12), I received an email notification that Gemini has posted its annual "State of Crypto" report. Here are the highlights:

Infographic copyright 2024/09 Gemini (Click to zoom in.)

• In current crypto ownership, Turkey (Türkiye) leads with a whopping 58% share, followed by Singapore (26%) and then the USA (21%). France and the UK are each at 18%.
• 65% of Turks are likely to purchase cryptocurrency in the next year or shortly thereafter.
• In past ownership, Singapore leads with 16%, followed by the UK and USA (both at 14%) and then France (12%).
• In terms of non-ownership, France has the highest figure (70%).
• Financial/Government regulations are a concern for potential newbies, according to the report.

“In the United States and France, nearly two in five (38%) non-owners cited regulatory concerns as a barrier to investing in crypto. In France, nearly one in three (32%) said the same, and in Singapore nearly half (49%) of respondents said crypto regulations were a concern.”

• 65% of crypto investors are HODLers and (38%) hold crypto as a means of protecting their assets/income against inflation.
• Government/financial policy has some influence on how some respondents will vote in the next elections.

Conclusion

• Crypto in the Middle East and South-East Asia is looking strong, but there's still much room for improvement (especially in Europe and the UK).
• The Turkish people are crypto-positive, maybe because they see it as a means to escape poverty. How the government views crypto and what regulatory policies it imposes remains to be seen.
• Financial/Governmental regulations on crypto are both discouraging newbies from investing and playing somewhat of an influential role in crypto-holders deciding on which presidential candidate(s to support. The message is clear: Stifling the cryptosphere (particularly entry thereto) is a bad idea (especially for anyone hoping to win an election).
• Most of the people whom have crypto are HODLers (which shouldn't be a surprise to anyone), with a large number using it as a hedge against inflation and/or poverty.
• I assume many in the cryptosphere are still comparing fiat to crypto in the hope that crypto will make them rich(er), instead of seeing it as a successor to fiat.

To read the full report, use the link below (in the "Resources" section).