Store of Value Narrative Spurs Crypto Adoption in Brazil and Indonesia
2021 brought a wave of new participants into crypto for the first time. According to a report by the crypto exchange Gemini:
Roughly 40% of crypto owners around the world surveyed by crypto platform Gemini first bought the digital assets in 2021. [Blockworks]
The store of value narrative is driving the fastest adoption. This narrative has become especially popular in countries with unstable currencies, where many view crypto as a way to mitigate the inherent risks of holding their country’s native currency. Gemini’s survey found that adoption was highest in Brazil and Indonesia.