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Top countries for HODLers

These countries have the most crypto hodlers

16 Dec, 2019
3 min read

In a world where the threat of economic downturn and currency volatility is very real for many, more and more ordinary people are turning to an unlikely “safe harbor” in crypto. It’s therefore unsurprising that the countries where we are seeing the fastest and most frenzied adoption of digital currencies are those with rampant inflation, serious political instability, high levels of insecurity, or any combination of the above.

However, this trend is a relatively recent one and there are plenty of other countries where crypto has gained significant popularity for quite some time already. While the list of nations with the biggest cryptocurrency holdings does contain several familiar faces such as the US, China, and Japan, there are a fair few surprises too.

For example, not many would expect to see more obscure countries like Romania, Poland and the Czech Republic in and among the early adopters named above. But as it happens, the percentage of consumers invested in digital assets is actually much higher in the latter countries. To put things into perspective, just 6% of the US general population owns some form of cryptocurrency, while the figure in Romania is twice that (12%). Even China is unable to match South-East Europe’s tech hub. In fact, with 11% of Chinese citizens in the market, it only just about manages to rival Poland.

Of course, the massive populations of these two world superpowers – which utterly dwarf those of Romania and Poland – mean that in terms of total crypto HODLers, they are still miles out in front. Nevertheless, it is certainly interesting to see that the general interest in cryptocurrencies, which is touted as the new haven asset, is so high in these relatively stable EU member states. Whatever the reason for the current trend, all of these nations have exhibited a strong demand for cryptocurrencies for many years, independent of any earth-shattering events or developments.

Countries you maybe didn't expect

That said, there are several countries among the top locations for crypto investors whose serious economic and/or geopolitical problems are clear for all to see. In fact, it is precisely in these places that we are seeing the most rapid expansions across all demographics.
A prime example is Turkey. Recent estimates suggest that 20% of Turks own at least one cryptocurrency, and this figure will only grow until the situation in the country stabilizes (which doesn’t seem likely any time soon). After Turkey, the next largest number of HODLers, as a percentage of the total population, can be found in Latin America. Indeed, the turbulent times in Columbia and Brazil have contributed to a situation where 18% of their people are choosing digital assets over the country’s official currency. Staying in South America, the figure in joint third-place from Argentina – which in September, saw its stock market lose around 50% of its value – stands at 16%.

We should also mention Venezuela at this point. Reports would suggest that the numbers there are actually much higher than all of the above, but sadly we don’t have the data to verify this. It hardly comes as a surprise though, given the level of poverty in this country, where hyperinflation has seen prices rise by almost 10,000,000%.

Two distinct categories for crypto hodler countries

In summary, among the nations with the biggest number of crypto HODLers, it would appear that there are two distinct categories. First, we have places like the US, East Asia, and Europe, where digital currencies have always been popular and people are making a conscious investment decision. Then there are countries whose citizens are purchasing crypto out of necessity, as a way of coping with the dim economic reality they are facing. Regardless of how you look at it, one thing’s for sure: cryptocurrencies are already massive and it looks like they’re only going to get bigger. Buy cryptocurrencies with StormGain and join the crypto HODLers community!

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