Indonesia, Brazil lead cryptocurrency ownership globally as currency devaluation, inflation spur adoption, survey shows


Source: scmp.com scmp.com

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Indonesia and Brazil lead the world in the adoption of cryptocurrencies, where investors perceive them as a hedge against currency depreciation and inflation, according to a survey by the US cryptocurrency exchange Gemini. While bitcoin and other digital tokens are still not accepted as legal tender in most of the 20 markets surveyed globally, their finite supply means that they are still perceived as a more stable store of value than traditional assets, the survey showed. Some 41 per cent of those surveyed in Indonesia and Brazil owned cryptocurrencies, followed by the United Arab Emirates and Singapore at 35 per...