Bulgaria's Crypto Ownership Doubles in 2024

In 2024, the number of cryptocurrency holders has surged to 562 million, marking a significant increase of 33% from the 420 million reported at the same time last year. This data is highlighted in the quarterly crypto market analysis released by Belayer.

According to Triple-A’s annual survey, which encompasses data from 56 countries, Asia leads with the highest number of crypto asset holders, totaling 326 million users. This figure far surpasses North America’s 72 million users, placing it second in the global ranking.

South America also made notable progress, showing the fastest growth in crypto adoption among its population. The continent saw a 115% increase year-over-year, reaching 55 million users, largely driven by high inflation in the region.

Demographic insights reveal that 61% of crypto asset holders are male, while 39% are female. Furthermore, 72% of crypto users are under the age of 34, and over 71% have completed a bachelor’s degree.

Bulgaria is featured in this year's Triple-A survey, with cryptocurrency ownership standing at 6.10%, equivalent to nearly 300,000 people as of the first half of 2024. This figure represents a doubling compared to the previous year, surpassing the European average growth rate of 60% annually.

In Europe, new developments are emerging in the crypto sector. The European Union has launched a new organization named Europeum, designed to unify the 27 member states in creating a blockchain network of their own. This initiative diverges from the anticipated EU registry of digital cryptocurrencies and aims to modernize record-keeping and data transfer within the Union. It also seeks to establish a sovereign digital infrastructure to reduce reliance on major services like Amazon Web Services and Google.

Europeum’s blockchain network, akin to Ethereum, is expected to have a profound impact on both citizens and businesses. Consumers will be able to trace product origins, while companies can safeguard intellectual property through immutable blockchain records. Additionally, the blockchain will facilitate streamlined legal and bureaucratic processes through automated smart contracts and support Web3 applications. The initiative is also poised to assist in the introduction of the digital euro by the European Central Bank.

The European Digital Infrastructure Consortium (EDIC) concept is set to enhance the creation of multinational projects and ease cost and management sharing. Europeum will initially include ten member countries: Belgium, Croatia, Cyprus, Greece, Italy, Luxembourg, Portugal, Romania, Slovenia, and potentially Poland. Other EU nations are expected to join the consortium in the future.

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