The cryptocurrency landscape is evolving at an unprecedented pace, transforming from a niche market into a cornerstone of global finance. According to Triple’s A latest report, The State of Cryptocurrency Ownership Worldwide in 2024, global crypto ownership has soared to 562 million people, representing 6.8% of the world’s population. This marks a remarkable 34% increase from 420 million in 2023, underscoring the growing mainstream adoption of digital currencies. This rapid adoption is particularly notable in the United Arab Emirates and Saudi Arabia, where enthusiasm for cryptocurrency is surging.
Triple A’s report highlights that 562 million individuals worldwide now own cryptocurrencies, a testament to the increasing accessibility and appeal of digital assets. This 34% year-over-year growth reflects a confluence of factors driving adoption, including regulatory clarity and macroeconomic pressures such as inflation and currency devaluation. The UAE leads globally with a 25.3% crypto ownership rate, while Saudi Arabia follows closely at 15%, ranking among the top 10 countries. This high adoption reflects the region’s tech-forward culture and appetite for innovative investments, positioning the UAE and KSA as key players in the crypto ecosystem.
Regionally, Asia dominates with 326.8 million crypto owners, a 21.8% increase from 268.2 million in 2023. South America saw the highest growth at 116.5%, rising from 25.5 million to 55.2 million owners, while North America grew 38.6% to 72.2 million. Europe and Oceania recorded 60.3% and 114.3% growth, respectively, and Africa’s ownership increased by 8.5% to 43.5 million. These figures underscore crypto’s global appeal, with the UAE and KSA standing out for their leadership in adoption rates.
Top Countries Driving Adoption
The UAE’s 25.3% ownership rate makes it the world leader, followed by Singapore (24.4%), Turkey (19.3%), Argentina (18.9%), and Thailand (17.6%). The United States ranks eighth at 15.5%, just above Saudi Arabia at 15%. In the UAE, crypto’s popularity is fueled by government initiatives like Dubai’s Blockchain Strategy and a robust regulatory framework under the Virtual Assets Regulatory Authority (VARA). Saudi Arabia’s Vision 2030, emphasizing fintech innovation, similarly supports crypto’s rise, with investors leveraging digital assets for diversification and wealth preservation.
Young and Tech-Savvy Demographic
The report notes that 34% of crypto owners are aged 24-35, with the 35-44 age group comprising 31%. This millennial-driven adoption aligns with the UAE and KSA’s youthful, digitally native populations drawn to crypto’s potential for high returns and technological innovation. However, a gender gap persists, with 61% of owners male and 39% female globally, suggesting opportunities to engage more female investors through education and accessible platforms.
In the UAE and KSA, where millennials and Gen Z dominate the workforce, crypto’s appeal as a long-term investment is evident. Triple A’s data shows that most owners buy and hold for long-term gains rather than short-term trading, a trend that resonates with the region’s strategic investors.
Looking ahead, Triple A predicts continued growth, with 14% of non-owners planning to buy crypto in 2025. The UAE and KSA are well positioned to lead, thanks to supportive regulations and tech-driven economies. Educational efforts and secure platforms will be key to sustaining this momentum.
