Latvia

3.3% of Latvians own cryptocurrency

How many cryptocurrency owners are in Latvia?

It is estimated that over 60,000 people, 3.3% of the total Latvian population, currently own at least one form of cryptocurrency.

Growing interest in cryptocurrency in Latvia?

There has been evidence of growing interest in cryptocurrency in Latvia, with online searches of “Bitcoin” and “cryptocurrencies” rising steadily on Google since 2021.

According to a Small Business Economics study in 2020, Latvia is amongst the top 15 countries globally for the total number of Bitcoin merchants per million users as well as bitnode intensity, suggesting high commercial Bitcoin adoption in Latvia.

Cryptocurrencies' rising popularity in Latvia

• SimpleFlying: airBaltic Expands Cryptocurrency Offering With NFT Sales – April 2021
  Latvian flag carrier airBaltic has become the world’s first airline to jump on the non-fungible token (NFT) craze. The airline is offering limited NFTs of an Airbus A220-300 along with unique pieces of art promoting Latvian towns and cities. airBaltic plans to release “limited collector NFTs” showcasing an individual Airbus A220-300 with its registration.” Additionally, the airline will issue digital art on Latvia’s towns and cities “one by one” as part of a tourism campaign.
  
  
• Juris Kaza: Latvian entrepreneurs claim world’s first cryptocurrency embassy… – November 2018
  A couple of Latvian entrepreneurs have opened what they call the first cryptocurrency cash embassy
  
  
• LIAA: Latvia working on virtual currency regulation… – August 2018
  Latvia is striving to be a fintech leader, and its efforts to put in place regulations for cryptocurrency transactions have only just begun.