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Canadian Bitcoin Ownership in 2023: Key Takeaways

Author

Listed:
  • Daniela Balutel
  • Marie-Hélène Felt
  • Doina Rusu

Abstract

We provide an update on cryptoasset ownership in Canada using data from the Bitcoin Omnibus Survey (BTCOS) conducted in late 2023. Bitcoin ownership remained stable at around 10% in 2023 and continues to be concentrated among men, younger individuals and those with higher income and levels of education. The use of Bitcoin for payments remains limited, with most owners viewing it primarily as an investment. Despite growing awareness of alternative cryptocurrencies, Bitcoin remains the dominant holding among Canadians, with a median value of Can$500.

Suggested Citation

  • Daniela Balutel & Marie-Hélène Felt & Doina Rusu, 2025. "Canadian Bitcoin Ownership in 2023: Key Takeaways," Discussion Papers 2025-04, Bank of Canada.
    • Handle: RePEc:bca:bocadp:25-04
    DOI: 10.34989/sdp-2025-4
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    References listed on IDEAS

    as
    1. 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.
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    More about this item

    Keywords

    Bank notes; Digital currencies and fintech; Econometric and statistical methods;
    All these keywords.

    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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