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A new survey from Gallup shows that only 2% of Americans own cryptocurrency. Here’s what that means for the future of digital assets.
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Introduction
The cryptocurrency industry has been one of the hottest and most volatile industries over the past few years. While there are still many people who are skeptical of investing in digital assets, an increasing number of people are beginning to see the potential of cryptocurrencies.
One of the biggest questions that people have about the industry is “How many Americans own cryptocurrency?” While there is no definitive answer to this question, a recent survey by Finder.com found that nearly 7% of Americans currently own digital assets. This means that approximately 21 million people in the United States currently own cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others.
While the number of people who own digital assets is still relatively small when compared to the overall population, it is likely that this number will continue to grow in the coming years. As more people become aware of cryptocurrencies and as more businesses begin to accept them as payment, it is expected that ownership will continue to increase.
How many Americans own cryptocurrency?
A recent survey by Gallup found that only 2% of Americans own cryptocurrency. This number has remained relatively stable over the past few years, despite the volatile nature of the market. Furthermore, only 5% of Americans say they are “very or somewhat familiar” with cryptocurrency. This suggests that most Americans are still largely unaware of the potential implications of investing in digital assets.
What factors influence cryptocurrency ownership?
Cryptocurrency ownership varies widely by age, income, and education, with younger adults, those with higher incomes, and those who have attended college being more likely to own cryptocurrency.About one-in-five U.S. adults (21%) say they own cryptocurrency such as Bitcoin or Ethereum, according to a new Pew Research Center survey conducted Feb. 5-19, 2021.
Investment potential is the top reason Americans cite for why they own cryptocurrency (64%), followed by payment methods (57%) and privacy (54%). And nearly three-quarters of cryptocurrency owners (73%) say they expect to purchase more digital coins in the future.
When it comes to concerns over crypto ownership, three-quarters of U.S. adults say they are very or somewhat worried about investing in cryptocurrency because it could lose value (78%), compared with just 21% who are not too or not at all worried about this. Additionally, 71% are very or somewhat worried that their investment could be hacked or stolen, while 28% are not too or not at all worried about this possibility.
Conclusion
As of now, it is estimated that only 3-6% of Americans own cryptocurrencies. Nevertheless, this number is growing rapidly as awareness of Bitcoin and other digital assets increases. With the rise of institutional interest and the entry of more mainstream companies into the crypto space, it is likely that ownership will continue to grow in the coming years.
