More than two-thirds of Americans now own cryptocurrency, ChainPlay and Storible’s survey reveals.
As a researcher delving into the fascinating world of digital finance, I’m thrilled to share an intriguing finding from our recent joint study by ChainPlay and Storible. The survey, comprising 1,428 participants, has unveiled a significant milestone: approximately 70% of Americans now possess cryptocurrency. This development signifies a substantial leap for digital assets within the United States, as crypto is increasingly being viewed as a preferred investment option, transcending age barriers.
Significant political occurrences, such as the election of Donald Trump, have also influenced the situation. This event led almost 40% of U.S. residents to invest more in cryptocurrency. Remarkably, around 84% of these investors were first-timers, indicating how momentous occasions can ignite fresh enthusiasm for crypto.
A significant number of Americans are rebalancing their investment portfolios by purchasing cryptocurrency. Over half (52%) admitted to selling stocks or gold to invest in Bitcoin (BTC), while around one in five (20%) have allocated more than 30% of their overall investments towards crypto, indicating a strong belief in the potential growth of digital currencies.
As we peer towards the future, our research indicates a resounding optimism within the cryptocurrency sector. Over half (60%) of investors anticipate doubling their investments by 2025, suggesting a robust faith in the ongoing expansion of digital assets.
Chainplay
As a researcher, I find it fascinating to note that the younger demographic is spearheading the trend of cryptocurrency adoption. On average, members of Gen Z are diving into this digital economy at the tender age of 22, whereas Millennials follow suit around the age of 29. Conversely, Baby Boomers typically start their crypto journey much later, usually by the time they reach 50 years old.
Yet, while cryptocurrencies have seen a surge in popularity, they haven’t been entirely free from hazards. In fact, as reported by the FBI, instances of crypto-related fraud are increasing, with a staggering $5.6 billion lost by Americans in 2023 – marking a significant 45% rise compared to 2022. The FBI recorded over 69,000 complaints regarding crypto scams, with investment scams accounting for the majority of these losses, totaling approximately $3.96 billion.
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2025-01-16 17:34