The post High inflation vs regional conflict: Which leads to higher adoption of Bitcoin and crypto? appeared on BitcoinEthereumNews.com.

Recent analyses indicate a significant positive correlation between rising inflation rates and increased crypto adoption worldwide. Countries experiencing high inflation are witnessing a surge in crypto usage as individuals seek alternatives to devaluing national currencies. Data compiled from Trading Economics show that nations like Argentina, Turkey, and Venezuela, which face inflation rates of 237%, 49.38%, and 25.75%, respectively, have crypto ownership rates of 9.73%, 5.62%, and 10.30%. In contrast, countries with low inflation rates, such as Japan (3% inflation, 4.13% crypto ownership) and Switzerland (0.8% inflation, 2.02% crypto ownership), exhibit lower crypto adoption. An analysis of the correlation between inflation rates and crypto ownership percentages yields a Pearson correlation coefficient of approximately 0.68, indicating a strong positive relationship. This suggests that as inflation rises, so does the rate of crypto adoption. Country Inflation Rate (%) Crypto Ownership (%) Argentina 237 9.73 Turkey 49.38 5.62 Venezuela 25.75 10.30 Nigeria 32.15 5.93 Japan 3 4.13 Switzerland 0.8 2.02 Australia 3.8 2.75 Inflation vs. Political Unrest While political unrest has been considered a factor influencing crypto adoption, its impact appears less significant when inflation is accounted for. While there is a correlation in some regions when reviewing fatalities linked to political violence, the data is not globally consistent enough to identify a clear trend. High Crypto Adoption & High Fatalities per Million Ukraine: 10.57% crypto adoption; 1,618.80 fatalities per million. Lebanon: 2.48% crypto adoption; 238.18 fatalities per million. Somalia: 1.94% crypto adoption; 289.13 fatalities per million. High Crypto Adoption & Low Fatalities per Million Vietnam: 21.19% crypto adoption; 0.02 fatalities per million. United States: 15.56% crypto adoption; 0.11 fatalities per million. Philippines: 13.43% crypto adoption; 6.00 fatalities per million. Low Crypto Adoption & High Fatalities per Million Cameroon: 1.68% crypto adoption; 78.16 fatalities per million. Ethiopia: 1.79% crypto adoption; 73.10 fatalities per million.…

---

Filed under: News - @ October 8, 2024 12:23 pm