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$67,402.00 7.39334
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Ethereum
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$3,595.51 3.66541
Ethereum price
BNB
BNB (BNB)
$416.78 0.72501
BNB price
Solana
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$130.00 -0.19666
Solana price
XRP
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$0.6561280 4.64286
XRP price
Shiba Inu
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$0.0000339 54.45723
Shiba Inu price
Pepe
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$0.0000075 34.32328
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Bonk
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$0.0000417 64.60312
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Bitcoin
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$67,402.00 7.39334
Bitcoin price
Ethereum
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$3,595.51 3.66541
Ethereum price
BNB
BNB (BNB)
$416.78 0.72501
BNB price
Solana
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$130.00 -0.19666
Solana price
XRP
XRP (XRP)
$0.6561280 4.64286
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000339 54.45723
Shiba Inu price
Pepe
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$0.0000075 34.32328
Pepe price
Bonk
Bonk (BONK)
$0.0000417 64.60312
Bonk price
Bitcoin
Bitcoin (BTC)
$67,402.00 7.39334
Bitcoin price
Ethereum
Ethereum (ETH)
$3,595.51 3.66541
Ethereum price
BNB
BNB (BNB)
$416.78 0.72501
BNB price
Solana
Solana (SOL)
$130.00 -0.19666
Solana price
XRP
XRP (XRP)
$0.6561280 4.64286
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000339 54.45723
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000075 34.32328
Pepe price
Bonk
Bonk (BONK)
$0.0000417 64.60312
Bonk price

A new government report claims most Canadians regret investing in crypto assets

a-new-government-report-claims-most-canadians-regret-investing-in-crypto-assets
Edited by
News
A new government report claims most Canadians regret investing in crypto assets

In 2023, the number of cryptocurrency owners in Canada decreased slightly, but the average holdings increased significantly.

According to a report from the Ontario Securities Commission (OSC), 77% of respondents regret investing in crypto assets.

While the number of Canadians able to provide a basic definition of cryptocurrency has grown from 51% in 2022 to 54% in 2023, only 34% of them now believe cryptocurrency “will play a key role in the future,” compared to 49% in 2022.

However, despite the pessimism, 39% of respondents said their crypto portfolio was profitable compared to the initial investment, which is only slightly lower than in 2022 (46%). And the average value of such a portfolio has risen sharply from $52,975 last year to $82,998 this year.

A new government report claims most Canadians regret investing in crypto assets - 1
Source: OSC report

The negative sentiment of Canadians towards cryptocurrency was confirmed in the “Digital Canadian Dollar Public Consultation Report.”

In addition, public consultations on the Central Bank of Canada’s digital currency (CBDC) initiative revealed a general negative attitude from Canadians.

The Canadian central bank set out to define the place of CBDC in a world dominated by digital paper payments and credit cards. However, Canadian residents have demanded the introduction of rules requiring merchants to accept cash as payment.

A new government report claims most Canadians regret investing in crypto assets - 2
Source: Digital Canadian Dollar Public Consultation Report

The majority of respondents advised the Bank of Canada to stop research and increase the capacity to issue a digital Canadian dollar. However, the public believes that their feedback will not be taken into account under the CBDC initiative.

At the same time, Canada is ranked in the top spot for having seven spot Bitcoin ETFs worth a total of $2b in total assets. Data from the report shows that Canada and Europe are the main markets for spot Bitcoin ETFs, with the seven in Canada and 10 in Europe.

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