Seven million adults in Britain now own crypto assets, up from five million in 2022, and growing numbers of them wrongly believe they will qualify for compensation if something goes wrong.
The latest snapshot of crypto ownership from the Financial Conduct Authority shows a sharp increase in numbers owning digital tokens such as bitcoin and ethereum as well as rising numbers borrowing to finance their purchases.
The increase in ownership to about 12 per cent of adults by August from 10 per cent in June last year is also accompanied by a rise in the numbers owning significant amounts by value.
Those owning £1,000 to £10,000 worth have risen from 20 per cent of respondents to 36 per cent. The average holding value is £1,842,