Crypto ownership in Canada declines, but average holdings value increases

Survey shows fewer Canadians own crypto assets in 2023

The number of Canadians who own cryptocurrency has slightly decreased in 2023 compared to the previous year, according to a survey conducted by the Ontario Securities Commission (OSC). The survey, titled "Crypto Assets Survey 2023," interviewed 2360 Canadians and found that 10% of respondents currently own crypto assets, down from 13% in 2022.

Regret among crypto investors

Although the number of crypto hodlers has declined, the average value of their holdings has significantly increased. However, the survey also revealed that 77% of respondents regret investing in crypto assets. This reflects a general pessimism towards cryptocurrency among the Canadian population.

Profits and portfolio value

Despite the overall skepticism, 39% of respondents reported that their crypto portfolio was profitable compared to their initial investment. This is only slightly lower than the previous year's figure of 46%. Additionally, the average value of a crypto portfolio rose from $52,975 in 2022 to $82,998 in 2023.

Reasons for buying crypto

The most common reason for purchasing cryptocurrency remains speculative investment. However, the survey found that the number of respondents who bought crypto as a long-term investment dropped from 29% in 2022 to 20% in 2023.

Comparison with France

The findings of the Canadian survey align with similar research conducted in France. According to the Organisation for Economic Co-operation and Development (OECD), 9.4% of the French population holds crypto assets, which is only slightly lower than the percentage of people investing in real estate funds.