Cryptocurrency adoption reached new highs in 2022, with the number of crypto owners hitting 425 million over the year, as per findings by crypto.com.

The research revealed the number of Bitcoin owners rose to 219 million in December, whilst those owning Ether reached 87 million.

The report entitled ‘Crypto Market Sizing’ for 2022 is based on Bitcoin and Ethereum on-chain data, survey analysis, and its own internal data, Bitcoin.com reports.

In relation to the total number of cryptocurrency owners around the world, the company’s Research and Insights team said that “in spite of macro headwinds,” such as the pandemic impact and supply chain issues “, crypto adoption in 2022 achieved new milestones, with the number of crypto owners reaching 425 million (December 2022).”

Last year, overall crypto owners increased by 39% from 306 million to 425 million, the report states. 

The number of Bitcoin owners rose by 20% from 183 million in January to 219 million in December, making up 52% of global owners. 

The findings also show that Bitcoin ownership was at its strongest in April last year when the Central African Republic became the second country to adopt the world’s largest cryptocurrency as legal tender after El Salvador.

Moreover, Goldman Sachs offering its first Bitcoin-backed loan in April signalled “further signs of increased interest in crypto from Wall Street institutions,” the Crypto.com report adds.

Additionally, “Ethereum owners grew by 263% from 24 million in January to 87 million in December, accounting for 20% of global owners,” the report goes on to say, adding that “the main catalyst behind Ethereum’s high adoption growth rate was The Merge.” The research also showed that “Ethereum’s monthly growth rates were higher than that of Bitcoin’s during the whole year except in April.”