In Singapore, 93% of people have heard of cryptocurrency, a survey finds

26 July, 2021

Most Singaporeans are positive on cryptocurrencies, regardless of age, but it is the country’s younger population that is adopting digital coins en masse, thanks to pro-crypto regulation, according to a survey by Australia’s Toluna, a consumer insights provider.

The Business Insider reports that the survey, which polled around 1,000 people, was conducted in May. It showed 93% of all Singaporeans had heard of crypto and 43% owned it, with adoption highest among 26-45 year-olds. 66% of respondents in that group said they owned some crypto. In the US, only 6% of adults said they invested in bitcoin, according to a recent Gallup poll.

The Singapore survey showed 59% believed crypto would reach mass adoption, and 50% believed that bitcoin will be worth more than $367,000 by 2030, roughly 10 times what it’s worth right now.

The positive sentiment was attributed to the country’s media coverage of the crypto adoption from private banks, the country’s successful CBDC trials plus, their regulations.

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