Males Are More Likely To Buy Crypto Than Women: JPMorgan Research

According to recent JPMorgan Chase data, more than 25% of millennial males have purchased cryptocurrency, although just around 12% of millennial women and 5% of male baby boomers have.

The data from JPMorgan comes from monitoring checking account transactions from a sample of over 5 million consumers, according to a research titled “The Dynamics and Demographics of U.S. Household Crypto-Asset Use.” It discovered that 600,000 clients in this study group moved money to crypto wallets sometime between 2020 and 2022.

According to JPMorgan, cash payments into crypto exchanges have only marginally outpaced cash transfers in recent months. This is due to both the price decreases and a larger pattern of the US savings rate dropping since the epidemic.

During the COVID-19 pandemic, the company of the population that has ever put funds into a crypto-related account quadrupled, climbing from 3% before 2020 to 13% as of June 2022. This study is based on de-identified data from Chase checking account transactions compared to hundreds of retail digital asset platforms.

The survey also addressed whether specific demographic groups are more inclined to purchase digital assets. It discovered that males of all ages buy far more cryptocurrency than women and that younger individuals buy far more than older people.

Despite the drop in market prices and trading activity, this new analysis shows that ownership has surged in recent years.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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