Cryptocurrency adoption is increasing in Singapore, with younger generations looking to capitalize on the rising value of Bitcoin, according to a report by CoinTelegraph on Monday.
- Forty-three percent of the polled respondents mentioned that they owned cryptocurrency, with 46% planning to purchase digital assets in the next 12 months. 66% of the respondents said they owned cryptocurrencies aged between 26 to 45 years.
- As expected, 93% of the surveyed said they are familiar with Bitcoin. Close to 40% of the respondents described BTC as an “investment asset” and 25% referred to it as a “store of value.”
- Three-quarters of those aged 26 to 35 said they believe cryptocurrencies will eventually become widely accepted by individuals and businesses.The attitudes of the respondents signal Singapore’s positive acceptance of digital assets across multiple elements of the society.
Singaporean financial authorities are working with French counterparts to explore cross-border applications of central bank digital currencies.
BTC USD up +7.97%.