Kaupr / English / Crypto reached mainstream in Finland during Covid: 1+ million owners predicted within decade
Crypto reached mainstream in Finland during Covid: 1+ million owners predicted within decade
There is a rising trend in cryptocurrency ownership among Finnish younger adults.
A recent survey conducted by the consultancy firm EY and the crypto research company K33 Research has revealed a rising trend in cryptocurrency ownership among Finnish younger adults, with 300,000 or 7 % of the Finnish population, reported to own some form of digital currency.
Dominantly fueling this trend is the younger adults, with 2/3 of Finnish cryptocurrency owners under 40. Moreover, the male population is particularly active in this growing sector with figures showing men are three times more likely to own cryptocurrency compared to their female counterparts.
– Cryptocurrency in Finland is poised for unprecedented growth. With prices capturing public attention, over 60 % of Finnish crypto owners climbed aboard after 2019 so crypto reached mainstream during Covid, says Anders Helseth, Head of Research at K33 Research.
The survey also highlights a strong future trajectory, which indicates that more than 1 million Finns, or approximately 24 % of the country's adult population could own cryptocurrency within the next decade.
– Considering the positive reception and quick adaptation to cryptocurrency among Finns, especially the young adults, we are looking a potential threefold increase over the next ten years. This is a clear signal of a diversified investment culture and should be noted by institutional investors as well as regulators in a year where EU’s Markets in Crypto Assets Regulation (MiCAR) is entering into force, says Mads Ribe, Associate Partner at EY Tax & Law.
The survey is the first of its kind conducted in Finland, with EY & K33 Research having conducted similar surveys in Norway for the past years. Similar Surveys for 2024 have been published for Denmark, Sweden, Norway and the Nordics.
Crypto Adoption Week
The findings from the Crypto Adoption Survey, conducted by EY and K33, were first revealed during Crypto Adoption Week 2024, which took place from the 8th to the 11th of April 2024, with Kaupr and the Nordic Blockchain Association as partners. During the week, Kaupr organized four live events where the results from each Nordic country were presented and discussed with a local panel. The presenters for all the live events were Mads Ribe from EY and Anders Helseth from K33. The discussion panel in the live event for Finland included the following local experts: Joonas Järvinen from Kvarn Kapital, Thomas Brand from Coinmotion, Sven Färm Martinsson from Valega Chain Analytics, Lucas Vogt from Helsinki Fintech Farm and Robert Tollet from Nordic Blockchain Association. Morten Myrstad, founder and editor in Kaupr, was the moderator of all the live events during the week.
You can watch a recording from the Finnish live event below. You can also watch the recordings from the other live events during Crypto Adoption Week on Unleash Digital, on YouTube and on the video tab on Kaupr.io. For updates about other events from Kaupr you can subscribe for the newsletter Unleash Updates. Please also follow and interact with Kaupr on Linkedin, X / Twitter, Facebook and Instagram.