Coinbase Survey Reveals 20% of Americans Own Crypto Assets Amid Challenging Market Conditions
A study commissioned by the crypto exchange Coinbase in the US reveals that more than a fifth of Americans own crypto.
The study conducted in February says that 50 million Americans, or 20% of the US population, own crypto, roughly the same number as in early 2022.
On the political affiliation of Americans who own cryptoassets, the survey says,
“Crypto ownership is broadly consistent for Republicans (18%), Democrats (22%), and independents (22%), speaking to how crypto is a rare bipartisan issue.”
Younger Americans and people of color have a higher share of crypto ownership, according to the survey.
The survey also reveals that 80% of Americans believe the global financial system “unfairly favors powerful interests,” while 67% say it requires “major changes or a complete overhaul.”
“The survey found that 80% of respondents believe the current financial system is unfair, with the overwhelming majority expressing frustration with the current financial system and a hunger for change.”
According to the survey, more than three-quarters of Americans who own crypto are optimistic about the future of crypto-assets as well as blockchain technology and believe they can be part of a solution to the problems plaguing the financial system.
“76% of those who own crypto agree that cryptocurrency and blockchain are the future. These numbers are even higher among Americans of color and younger Americans. Regardless of crypto ownership, the majority of Gen Z adults (54%) and Millennials (55%) agree that cryptocurrency and blockchain are the future.”
The survey, conducted by business intelligence firm Morning Consult on behalf of Coinbase, surveyed over 2,000 Americans.
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