Public awareness of cryptocurrencies in Singapore has reached a record high, even as the number of individuals actively holding digital assets has declined, according to a new survey released Wednesday.
The Singapore Crypto Market Survey, conducted in February and published by licensed exchange Independent Reserve, found that 94% of respondents are familiar with at least one cryptocurrency. However, active ownership dropped to 29%, down from 40% reported in the previous year.
The annual study, now in its fifth year, polled 1,500 Singapore-based participants to assess public knowledge, investment patterns, and sentiment regarding digital assets.
Ownership Falls, but Interest Remains Strong
While overall ownership rates have declined, the data suggests continuing interest in the market. Of those holding crypto, 53% intend to increase their investments in the next 12 months. An additional 17% of non-holders expressed plans to enter the market within the same period.
Bitcoin remains the dominant digital asset among Singaporean investors. The survey found that 68% of crypto holders own Bitcoin, and 86% of these investors consider it a currency, a store of value, or a viable investment vehicle. Most investors (77%) expect its price to exceed $100,000 by 2030.
Despite the availability of alternative investment methods, direct ownership remains the preferred mode. 61% of investors opt to hold crypto assets directly rather than through exchange-traded funds or other intermediated financial products.
Demographic Shifts and Trading Behavior
Investor demographics are shifting, with younger and middle-aged groups continuing to dominate. The survey found that 71% of cryptocurrency holders are between the ages of 25 and 54, up from 61% in 2024. The same group also makes up 76% of those who trade at least weekly.
The survey also noted increased arbitrage activity, with 67% of respondents reporting they sold part or all of their holdings over the past year to capitalize on market fluctuations.
Independent Reserve Singapore President Lasanka Perera emphasized Bitcoin’s ongoing relevance within the crypto ecosystem.
He attributed investor confidence to its decentralized structure and transparent protocols.“The decentralized design, scarcity and transparency are the reasons why many investors continue to trust it.” The survey’s findings suggest that while active participation in the crypto market may be decreasing, broader awareness and long-term interest remain robust.
