According to 2021’s Global Crypto Adoption Index, Vietnam, India, and Pakistan rank as the countries with the highest rate of cryptocurrency adoption. In 2020, India and Pakistan did not even appear on the list, and Vietnam was ranked number 10.
Russia, Ukraine, and Venezuela – the leaders in 2020 – slid down in the ranking. Moreover, China disappeared from the ranking, considering the recent legal blows against the industry and the progress the country is making in the development of its CBDC.
The report argues that a significant number of countries at the top of the ranking have had to deal with sharp devaluations and accelerated inflationary processes. To counteract this, the population tends to look for assets that function as a store of value, and Bitcoin is the perfect candidate for a good number of people.
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