This is a remarkably high percentage of crypto ownership which suggests that the survey may have been biased towards investors, although that wasn’t divulged.
This is an extremely high percentage even when it is recognized that respondents had an average income of Singapore $51,968:
“Amongst those who held cryptocurrencies, 78% said they owned Ethereum while 69% had Bitcoin and 40% carried Cardano, according to a survey released Monday that polled 4,348 respondents in Singapore, including 2,862 who said their investment portfolio currently included cryptocurrencies. The study was conducted by cryptocurrency platform Gemini, financial platform Seedly, and cryptocurrency price-monitoring site CoinMarketCap.
Respondents were aged between 18 and 65, with an average household income of SG$$51,968 ($38,467). Half of those who owned cryptocurrencies 25 to 34 years old, while 19.8% were 35 and above.
Some 67% of respondents who owned personal investment products said they had cryptocurrency in their portfolio. Amongst the remaining 33% who did not, 69% pointed to a lack of knowledge and understanding of digital assets as a barrier. Another 52% cited the market’s volatility as an obstacle, while 29% said they were uncertain how to invest in cryptocurrencies.”
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group
