What are the odds of Bitcoin surpassing $50k

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The crypto market has gained a significant amount of traction in Singapore, especially among younger investors. The major catalyst for confidence in cryptocurrencies, in Singapore, has been the transparency regarding local regulation and taxation issues. It’s no surprise that several cryptocurrency exchange platforms either desire to or have already based their operations in this region.

A recent survey report based on a poll of 1000 Singaporeans from diverse backgrounds highlighted their opinions towards cryptocurrency. The same was carried out by Toluna, an independent consumer insights provider, by looking into the 2021 Independent Reserve Cryptocurrency Index, or IRCI. The report incorporated various aspects.

Awareness

To begin with, 93% of the polled respondents were aware of at least one cryptocurrency, Bitcoin being the most commonly known, as 90% of respondents acknowledged the same.

Source: ICRI report

Adoption

In 2021, nearly 43% of the panelists acquired some type of crypto. This statistic was certainly above the average range when compared to both, regional and global average estimates.

In addition to this, ownership by those under the age bracket of 25 to 34 was 66%, followed by the 35 to 44 age group with just above the 60% share. Deep-diving further, more than half of male Singaporeans, or 51%, owned some cryptocurrency compared to 35% of women.


Source

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