Cryptocurrency awareness in Singapore has reached an unprecedented 94%, indicating widespread familiarity with digital assets. However, a recent survey reveals a contrasting trend: actual crypto ownership has fallen to 29% in 2025, down from 40% the previous year.
Key Findings from the Singapore Crypto Market Survey
Independent Reserve’s fifth annual Singapore Crypto Market Survey, conducted in February with 1,500 participants, sheds light on this evolving landscape:
- High Awareness, Lower Ownership: 94% awareness contrasts with 29% ownership.
- Gender Disparity: Men (35%) are more active in crypto investing than women (24%).
- Millennial and Gen X Dominance: 71% of crypto holders are aged 25–54.
Reasons for Declining Ownership
Several factors could contribute to the decline in crypto ownership despite high awareness:
- Market Volatility: The inherent volatility of cryptocurrencies may deter some potential investors.
- Regulatory Uncertainty: Evolving regulations can create uncertainty and discourage participation.
- Alternative Investments: Investors may be shifting to other asset classes offering perceived stability or higher returns.
- Economic Conditions: broader economic factors can influence people’s willingness to take risks with crypto
Continued Optimism and Future Plans
Despite the ownership dip, optimism within the crypto community remains strong:
- Increased Holdings: Over half (53%) of current holders plan to increase their crypto positions in the next 12 months.
- New Entrants: 17% of non-holders are considering entering the crypto market.
Bitcoin’s Dominance and Future Outlook
Bitcoin (BTC) remains the cornerstone of the crypto market in Singapore:
- Most Held Crypto: 68% of crypto investors hold Bitcoin.
- Perceived Value: 86% view Bitcoin as a currency, store of value, or investment asset.
- Price Prediction: 77% believe Bitcoin will exceed $100,000 by 2030.
Preferred Investment Methods
Direct ownership remains the preferred method for holding crypto assets:
- Direct Ownership: 61% prefer holding assets directly.
- Arbitrage Trading: 67% have capitalized on price swings by selling holdings.
Stablecoins and Memecoins
Stablecoins and memecoins also play a role in the Singaporean crypto market:
- Stablecoin Adoption: 46% of investors hold stablecoins, primarily for trading and DeFi activities. 83% of these are pegged to the US dollar.
- Memecoin Popularity: 28% hold memecoins, with Dogecoin (DOGE) being the most popular.
Singapore’s Position as a Global Crypto Hub
Singapore continues to strengthen its position as a global crypto hub:
- Blockchain Patents: Leads the world with 1,600 blockchain patents.
- Crypto Jobs: Boasts 2,433 crypto-related jobs.
- Crypto Exchanges: Hosts 81 active cryptocurrency exchanges.
Regulatory Developments
Singapore’s regulatory environment is evolving to support the crypto industry:
- Payment Institution Licenses: The Monetary Authority of Singapore issued 13 major payment institution licenses to crypto exchanges in 2024.
Conclusion
While crypto ownership has declined slightly in Singapore, the high level of awareness, strong sentiment among current holders, and Singapore’s ongoing development as a global crypto hub indicate a promising future for digital assets in the region. The growing adoption of stablecoins, the persistent interest in Bitcoin, and the proactive regulatory environment all contribute to a dynamic and evolving cryptocurrency ecosystem.
