The latest report from the Financial Conduct Authority indicates that cryptocurrency ownership in the UK has surged, with 12% of adults now holding digital assets.
The proportion of individuals holding between £1,000 and £10,000 in crypto has increased from 20% to 36%, highlighting a growing willingness to invest substantial amounts.
Despite the surge in ownership, the FCA warns that one in five crypto owners mistakenly believe they would receive compensation if they lose money, emphasizing the unregulated nature of crypto.
A significant increase in crypto financing through borrowing has been noted, with 14% of buyers using credit cards or loans compared to just 6% in 2022.
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