Majority of young Americans have either invested money in crypto or they are willing to invest in near future. This is the core finding of a study on cryptocurrency adoption by digital asset platform Bakkt.
The study titled “U.S. Consumer Crypto Survey” is based on responses of more than 2,000 U.S. consumers. In this study, Bakkt examines how everyday consumers view cryptocurrencies and other digital assets.
The study finds that nearly half (48%) of U.S. consumers have invested money in cryptocurrency during the first half of the year. Most of them (around 20%) own crypto worth US$100 or less. Only 5% of them own cryptocurrency worth over US$1000.
Interestingly, 37% of young Americans (age group 18-29 and 30-44), who have not purchased any crypto in the past six months, are “somewhat” or “very interested” in investing in cryptocurrency.
Among existing crypto investors, 58% view cryptocurrency as a long-term investment, while 43% admit that they plan to sell when they can book some profit.
Surprisingly, a large population (who have still not invested) did not realize that they could buy part of a cryptocurrency (i.e. not the whole price of a coin).
Women are lagging far behind men in terms of blockchain and crypto awareness. According to the study, 45% of women surveyed said they don’t know anything about blockchain and cryptocurrencies, compared to 24% of men.
The study is based on a small sample size. But, it still offers some interesting insights into the US crypto market.