Bitpanda Survey Says Switzerland Is The Leading Crypto-Friendly Nation

A recent survey by Bitpanda shows that a significant 23% of the Swiss population owns crypto.

In partnership with YouGov Deutschland GmbH, Bitpanda surveyed more than 6,000 Europeans from Germany, France, Switzerland, Austria and Italy to study crypto trends.

Switzerland has emerged as one of the most crypto-friendly nations globally, with a substantial portion of its population actively participating in the digital currency ecosystem. 

“In our research, we wanted to better understand how these factors are changing,” said Bitpanda. “Switzerland was the most crypto-friendly country, with almost a quarter (23%) of the total population already owning cryptocurrencies.”

Explore: 10 Best Solana Meme Coins to Buy in 2024 

Millennials And Gen Z Embrace Crypto

The survey found that younger generations across five countries are driving the market, a trend which can also be seen in the country-specific data:

• Switzerland: 32% of Millennials and 29% of Gen Z own crypto.
• Austria: 28% of Millennials and 21% of Gen Z own crypto.
• France: 23% of Millennials and 22% of Gen Z own crypto.
• Germany: 22% of Millennials and 12% of Gen Z own crypto.
• Italy: 16% of Millennials and 13% of Gen Z own crypto

The world's crypto geography presents an intriguing paradox

The world's largest blockchain protocols and foundations are clustered in developed crypto hubs, with 🇨🇭 Switzerland leading the pack:
🇨🇭 Switzerland
🇸🇬 Singapore
🇺🇸 United States

Why?

Regulatory clarity… pic.twitter.com/S5gJEoiaoI

— arndxt (@arndxt_xo) July 14, 2024

Men More Likely To Invest In Crypto

Men are significantly more likely to invest in digital assets, with 21% of men compared to just 8% of women owning cryptocurrencies. This disparity extends to other asset classes, with men consistently outpacing women in investment activities.

Read more: Gen Z And Millennials Lead Crypto Adoption In Europe 

• Individual shares: 28% of men vs. 13% of women
• Cryptocurrencies: 21% of men vs. 8% of women
• Precious metals: 20% of men vs. 10% of women
• ETFs: 20% of men vs. 8% of women
• Commodities: 9% of men vs. 3% of women

Switzerland’s Traditional Banks Embrace Bitcoin

UBS, the largest Swiss banking institution, officially acquired Bitcoin Exchange-Traded Funds (ETFs), including cryptocurrency in traditional finance.

The bank invested in a number of BTC ETF offerings and now owns iShares Bitcoin Trust (IBIT), a Bitcoin spot ETF run by BlackRock’s subsidiary, iShares.

This development was revealed in the bank’s updated Form 13F-HR, which details the assets held by UBS as of 31 March 2024, submitted to the US Securities and Exchange Commission (SEC).

Read more: Largest Swiss Bank UBS Embraces Bitcoin, Institution Acquires BTC ETF 

Switzerland’s Cryptocurrency Asset Reporting Framework

On 15 May 2024, Switzerland issued a report expressing interest in implementing the Cryptocurrency Asset Reporting Framework (CARF) – designed to provide clear guidelines for both individual investors and businesses dealing in crypto.

The CARF outlines the procedures for reporting various types of crypto transactions, including trading gains, mining income and token staking rewards.

One of the key features of this framework is the emphasis on simplifying the reporting process. It makes crypto more accessible to the average crypto user.

Read more: Switzerland Considers Implementing Global Crypto Reporting Framework To Aid Transparency 

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Read more