In its 2022 survey released Wednesday, the Bank of Canada broke down Canadian cryptocurrency ownership.
The report found that Canadians sold their Bitcoin positions in 2022, but did not “shift away from Bitcoin into other crypto assets as we observed a decrease in altcoin ownership.”
Only about one percent of Canadians surveyed own stablecoins. Ethereum ownership drops from 7% in 2021 to 4% in 2022.
Volatility in the cryptocurrency market and financial markets can reduce investor appetite for risky assets, including cryptocurrencies, the bank said.