UpdatesMar 01, 2023

52 million Americans own cryptocurrencies. Most of them show an aversion to the traditional financial system

Research conducted by Coinbase shows what the people of the United States think about virtual currencies.

According to a survey conducted by an American cryptocurrency company listed on Nasdaq, the vast majority of US residents believe that the prevailing monetary system is unfair. As many as 80% of respondents showed their dissatisfaction with the current state of affairs, and 67% demanded immediate changes. Despite last year's decline in the digital currency market, as many as 52% of respondents were optimistic about this asset class.

Americans show an aversion to the traditional financial system

Coinbase's analysis of US residents reveals how they view the country's monetary system. It turns out that 4/5 of Americans surveyed are definitely dissatisfied with it. Moreover, more than half of the respondents expressed their willingness to introduce decisive changes in this respect.

Surveys conducted among American citizens have shown that an increasing number of them show awareness of the injustice of the current system and the need to introduce reforms in it.

The growing aversion to the inflationary fiat currency is pushing citizens to embrace cryptocurrencies. Although the market suffered heavily during 2022, approximately 52% of respondents expressed an optimistic view of this investment asset class.

The desire to buy cryptocurrencies by Americans

According to the survey, 20% of respondents (52.3 million Americans) indicated that they allegedly own some form of digital currency. What's more, almost 30% (76 million people) expressed their willingness to buy them within the next year.

The presented data show that as many as 66% of cryptocurrency holders in total were investors from generation Z and millennials.

In the opinion of Morning Consultant, whether Americans will want to own crypto assets has a big impact on how they perceive digital currency exchanges. If they consider platforms of this type to be “safe”, they will be more willing to make investments in the future. However, the events related to the numerous collapses of cryptocurrency companies have recently reduced trust in them.