Coinbase Study Reveals Promising Insights About Crypto Ownership
The study found that crypto ownership is consistent across political affiliations and that younger Americans have a higher rate of ownership.
The findings of a study commissioned by leading US-based crypto exchange Coinbase revealed that the popularity of cryptocurrencies continues to rise in America, with over a fifth of the population now owning some form of digital asset.
According to the survey conducted in February 2023, around 50 million Americans, or 20% of the population, own cryptocurrency, representing a stable figure compared to early 2022.
Interestingly, the study also highlighted that political affiliation has little bearing on the ownership of crypto assets, with similar numbers of Republicans (18%), Democrats (22%), and Independents (22%) holding digital currencies. This suggests that crypto is a rare bipartisan issue, which could contribute to greater future acceptance and regulation of the sector.
The study also indicates that younger Americans and people of color have a higher rate of crypto ownership than other demographic groups, with 29% of afromericans and 27% of Hispanic Americans owning digital assets, compared to 17% of caucasians. Moreover, the survey found that over 80% of Americans believe the current global financial system unfairly favors powerful interests, and two-thirds think it needs significant changes or a complete overhaul.
These results indicate a growing dissatisfaction with traditional financial systems and a growing appetite for innovation and change. Americans are increasingly turning to digital assets and blockchain technology as a potential solution to the problems of the current financial system. In fact, more than three-quarters of crypto owners in the survey were optimistic about the future of digital assets and blockchain technology, believing they could create a fairer and more inclusive financial system.
The survey also revealed that Gen Z adults and Millennials were particularly bullish on the future of cryptocurrencies and blockchain technology, with 54% and 55%, respectively, agreeing that they represent the future of finance.
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These numbers are even higher among people of color, indicating that digital assets and blockchain technology have the potential to become powerful tools for promoting financial inclusion and equality.
The survey, which was conducted by business intelligence firm Morning Consult on behalf of Coinbase, polled over 2,000 Americans, providing valuable insights into the attitudes and behaviors of US residents towards cryptocurrency and blockchain technology. With the popularity of digital assets continuing to grow, it will be interesting to see how attitudes toward crypto evolve in the coming years and how they will shape the future of finance.
Andrey Kunev
Reporter at CoinsPress
Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.
