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13% of Canadians Surveyed Own Bitcoin in 2021, Up from 5% in 2020 – Bank of Canada

The percentage of the Canadian population that owns bitcoin (BTC) hits 13% in 2021, up from just 5% a year earlier, a new report from the Bank of Canada has revealed.

According to the report, the notable increase in bitcoin ownership last year reflects easier access to the cryptocurrency through mobile apps, as well as an increase in investment by Canadians in general.

The Bitcoin ownership figure for 2021 is from the Bank’s Omnibus Bitcoin Survey, an unpublished survey by the central bank of Canada.

The bank added in its report that the average Canadian BTC holdings are around 500 CAD ($393). It noted that bitcoin is primarily used as an investment by Canadians, and it is being used less and less as a payment method due to its “high transaction costs” and “significant volatility.”

The central bank warned in its report that “the abrupt price correction means that investors holding these cryptocurrencies could suffer significant financial loss,” referring to Bitcoin and ethereum (ETH) have been “four to five times more volatile during 2021 than the S&P 500 stock market index.”