A new survey from the Bank of Canada shows that the number of Canadians who own Bitcoin (BTC) has more than doubled in the past year.
The central bank’s latest Bitcoin Omnibus Survey found that ownership levels increased to 13% in 2021, up from 5% a year earlier.
The number of Canadians who own Bitcoin held steady at 5% between 2018 and 2020 before spiking last year.
“This increase occurred following widespread increases in the savings and wealth of Canadians during the pandemic,” the Bank of Canada said in its report.
The survey found that Bitcoin ownership increased the most among men at 19% compared with 7% ownership among women.
The survey also found that younger Canadians are more likely to own BTC, with 26% of Canadians aged 18 to 34 holding the digital token in 2021.
However, the amount of Bitcoin that Canadians own is relatively small.
The Bank of Canada says that the median amount of Bitcoin held was $500, and 70% of Bitcoin owners held $5,000 or less of the digital asset.
Many Canadians have suffered significant losses on their Bitcoin holdings over the past year.
After peaking at $68,000 U.S. in November 2021, the price of Bitcoin has fallen 72% to its current level of just under $19,000 U.S.
Canadians also reported problems with their Bitcoin assets such as losing access to their digital wallet (11%), transaction problems (9%) and stolen funds (7%).
