Crypto on the Rise? Adoption of Bitcoin and Crypto Assets?

Philipp Sandner
2 min readSep 3, 2022


The number of crypto assets owners has been estimated to be 200 million people on our planet. According to the European Central Bank (ECB), there are 40 million people in Europe owning Bitcoin, Ethereum etc. making this 10% of the population; according to the White House in the US, there are another 40 million US citizens owning crypto assets; representing 16% of the population. Who are these 200 million people? Primarily people at an age between 20 and 40 years. Not much people at the age of 60 and more.

Now, a friend of mine has sent me this photo from a German book shop. What can we see here?

I think from this photo, we can infer the following implications:

  1. People are interested in: Bitcoin, crypto assets, inflation, crash.
  2. The book shop only uses such prime sales space in case there is demand. This is not a bookshelf at the end of the room. This is prime space.
  3. Who is buying books? People at the age of >35 or>45 we can guess. Younger people below 35 use Youtube, social media, etc. for education, roughly speaking. So, “elderly” people are onboarding themselves to crypto assets now.
  4. Once people have educated themselves, they will onboard to crypto exchanges and invest in crypto assets. This process of learning and understanding is tedious and we can expect it to take 2–6 months.
  5. Why is this happening? We can assume that inflation speeds this up and persistent inflation is the trigger for people to get interested. People can be expected to be disappointed because decreasing inflation expectations have not been met.

I learned one thing in the last years: In case people understand Bitcoin and crypto assets, they will invest sooner or later. Education drives understanding; but it costs time.

Here is the reverse proof: Do you know people, who do understand Bitcoin and crypto assets and have not invested? Such people — experts on crypto assets and reluctant to invest — hardly exist.



Philipp Sandner

Professor | Lecturer | Author | Investor | Frankfurt School Blockchain Center