Despite The Market’s Downturn, Crypto Is Held By 20% Of Americans 

Key Points:

• According to the most recent Coinbase study, one in every five Americans is a HODLer, and more than 20% still possess bitcoin or altcoins despite the day’s numerous negative occurrences in 2022.
• The study stated that 80% of Americans feel the existing global monetary system is unjust, with 67% believing that required changes should be made soon.

Despite the decline, 20% of Americans polled by Coinbase possess cryptocurrency.

According to the most recent Coinbase poll, one out of every five Americans is a Crypto HODLer. Holders are mostly young individuals and persons of color. Coinbase polled over 2,000 American individuals to learn about their perspectives on the present global financial network and their attitudes toward digital assets. Despite the day’s numerous tragic occurrences in 2022, 20% of individuals polled admit to still possessing bitcoin or altcoins.

Last year saw the demise of Terra/Luna, the insolvency of Three Arrows Capital (3AC) and Celsius Network, the demise of FTX, and several more tragedies. Blockchain technology is viewed as the “future” by 76% of investors. According to the survey, favorable reactions are stronger among younger generations, such as Gen Z and Millennials, as well as individuals of color. Democrats in Congress are somewhat more likely than Republicans to hold cryptocurrency. According to Coinbase, 80% of Americans feel the existing global monetary system is unjust, with 67% believing that required changes should be made soon.

“On a global scale, cryptocurrencies are facilitating quicker, lower-cost cross-border transfers, and digitally stable currencies are assisting people in developing countries with limited banking access to US dollars and financial services to help begin a small company.”

Past research has revealed that cryptocurrency is more popular in nations where individuals do not have access to traditional financial services. Gemini stated last year that Brazil and Indonesia are the global leaders in bitcoin adoption. A collaborative research done last summer by Bitget, Foresight Ventures, and Boston Consulting Group (BCG) indicated that the number of crypto users might reach 1 billion during the next ten years. The survey also discovered that North Americans are more inclined to invest large sums of money in cryptocurrency, while Africans are the least likely.

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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