There are many reasons why people invest in cryptocurrencies. Maybe you want to use them to send money, or you just want to make money. In the United States, many people put money into crypto because they are frustrated with the financial system.
20% of US residents are in crypto
Coinbase concludes this based on a research that it company has done. It surveyed more than 2,000 American adults about the financial system. 80% of US residents believe the current global financial system is unfair and disproportionately serves the interests of influential parties.
The majority of this group of respondents is extremely frustrated with this and wants it to change. In fact, 67% want the system to need major changes or even a complete overhaul.
About 50 million US residents are said to own cryptocurrency in some form. That is about 20% of the population. 2022 has been a tumultuous year, but that hasn’t changed the net percentage of Americans into crypto.
Also, crypto investors are not attached to a single political party. 18% are Republican, 22% are Democrat, and 22% say they have not joined a political party. 76% of those surveyed with cryptocurrencies in their portfolio believe that crypto and blockchain are the future. That percentage is even higher among Americans of color and among younger investors.
In addition, 54% of all Gen Zers surveyed and 55% of Millennials believe crypto is the future, regardless of whether they have invested in it or not.
Surprising results from surveys
Surveys regularly yield surprising results. That was how it turned out last year 15% of Dutch households invest in cryptos such as bitcoin (BTC). This research showed that 37% of investors invest 999 euros or less. In 2021, half of the investors in the Netherlands invested less than 500 euros in the volatile asset class.
The amount has therefore increased in the meantime, despite the fact that prices then fell. It is not clear what the numbers stand for now. Furthermore, the Netherlands was in the top 3 of the most profitable countries worldwide.