66 million Americans own cryptocurrencies despite bear market

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A caller study has devolved into nan ownership of cryptocurrencies by Americans astatine a clip nan assemblage is witnessing accrued talk astir regularisation of nan industry. 

Indeed, arsenic of February 2023, astir 20% of Americans representing astatine slightest 50 cardinal citizens, ain different types of cryptocurrencies, research published by crypto speech Coinbase connected February 27 indicates. 

The study pointed retired that crypto ownership among citizens has remained accordant contempt nan 2022 bear market that saw assets specified arsenic Bitcoin (BTC) plunged by complete 60%. Interestingly nan immense mostly of crypto holders, astatine 76%, judge integer assets and nan underlying technology are nan future. 

Insights into U.S. crypto ownership and manufacture views. Source: Coinbase

“At nan aforesaid time, nan study indicates that astir Americans stay optimistic astir nan early of crypto and understand its imaginable to beryllium portion of nan solution to bring astir meaningful alteration to nan financial strategy that would use nine arsenic a whole,” Coinbase said. 

A breakdown of nan holders shows that Democrats and Independents are tied astatine 22%, pinch Republicans accounting for astir 18% of cryptocurrency ownership. 

Need to overhaul financial system 

The investigation that sampled feedback from complete 2,000 individuals saw 80% constituent retired that nan existent world financial strategy requires an overhaul terming it unfair. Consequently, 67% of nan respondents indicated that nan financial strategy needs an overhaul. 

Following nan study outcome, Coinbase indicated that location are plans to motorboat countrywide acquisition connected nan usage of cryptocurrencies to make nan financial strategy fair. In this line, nan trading level plans to motorboat campaigns connected utilizing exertion to update financial systems and circumstantial usage cases from crypto. 

It is worthy noting that arsenic much Americans task into cryptocurrencies, nan state still grapples pinch nan sector’s regulations. Notably, respective legislative laws person been fronted earlier different legislative arms proposing nan adjacent measurement guardant for nan industry. 

The matter has besides caught nan attraction of nan White House, which commissioned investigation into nan improvement of crypto regulations. At nan aforesaid time, nan regulator, nan Securities Exchange Commission (SEC), continues to ace down connected different players, particularly connected nan issuance of securities.