Nearly 90% of American adults have heard of cryptocurrencies, but most aren’t confident that ways to invest, trade or use them are reliable and safe, according to a Pew Research Center survey published Monday.
The survey was conducted between March 13 and 19, around the time Silvergate Capital and Signature Bank, both crypto-friendly banks, collapsed or were liquidated. It was also around the time that bitcoin BTCUSD prices had risen.
Crypto…
Nearly 90% of American adults have heard of cryptocurrencies, but most aren’t confident that ways to invest, trade or use them are reliable and safe, according to a Pew Research Center survey published Monday.
The survey was conducted between March 13 and 19, around the time Silvergate Capital and Signature Bank, both crypto-friendly banks, collapsed or were liquidated. It was also around that time bitcoin
BTCUSD
prices had risen.
Crypto has seen a rough several months, from multiple corporate bankruptcies like the FTX crypto exchange, to lawsuits against crypto giants like Binance, and frequent regulatory threats from the US Securities and Exchange Commission.
Few adults surveyed by Pew Research said they were extremely (2%) or very confident (4%) in cryptocurrencies. Older American adults, age 50 and older who knew about crypto, were more likely than younger people to say they were not sure about crypto’s reliability and security. Gender differences also emerged, with 41% of men aged 18 to 29 saying they have invested, traded or used cryptocurrency, compared to 16% of women in the same age group.
Overall, 17% of US adults said they had invested in, traded or used crypto in the past, which was largely unchanged from previous surveys conducted by the Pew Research team in 2021 and 2022.
These numbers were similar to those reflected in a JPMorgan Chase & Co. survey released in February, in which 72% of institutional traders said they had no plans to trade cryptocurrency in 2023, and 14% said they would do so within the next five years.
Bitcoin, which was created back in 2009, is currently trading at $29,140, up 3.58% in the last 24 hours, according to CoinDesk Data. It remains well below the $65,000 peak in November 2021.
