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Cryptoasset Ownership and Use in Canada: An Update for 2022

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Listed:
  • Daniela Balutel
  • Christopher Henry
  • Doina Rusu

Abstract

This paper provides an update on cryptoasset ownership in Canada using data from two Bank of Canada surveys conducted in 2022. We find that Bitcoin ownership declined from 13% in 2021 to 10% in 2022, and ownership of other cryptoassets also fell. These drops occurred against a background of steep price declines and an increasingly tight regulatory atmosphere for cryptoassets.

Suggested Citation

  • Daniela Balutel & Christopher Henry & Doina Rusu, 2023. "Cryptoasset Ownership and Use in Canada: An Update for 2022," Discussion Papers 2023-14, Bank of Canada.
    • Handle: RePEc:bca:bocadp:23-14
    DOI: 10.34989/sdp-2023-14
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    References listed on IDEAS

    as
    1. Henry, Christopher S. & Huynh, Kim P. & Nicholls, Gradon, 2018. "Bitcoin awareness and usage in Canada," Journal of Digital Banking, Henry Stewart Publications, vol. 2(4), pages 311-337, May.
    2. Christopher Henry & Kim Huynh & Gradon Nicholls, 2018. "Bitcoin Awareness and Usage in Canada: An Update," Staff Analytical Notes 2018-23, Bank of Canada.
    3. Jiageng Liu & Igor Makarov & Antoinette Schoar, 2023. "Anatomy of a Run: The Terra Luna Crash," NBER Working Papers 31160, National Bureau of Economic Research, Inc.
    4. Annamaria Lusardi & Olivia S. Mitchell, 2014. "The Economic Importance of Financial Literacy: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 5-44, March.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

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